Title
Adoption of Resolution Amending the Base Reuse Fund Budget to Appropriate $300,000 for a Business Development Loan for Firebrand Artisan Breads to Complete a Retail Caf? At 707 W. Tower Road; and Recommendation to Authorize the Interim City Manager, or Designee, to Execute a Business Development Loan Agreement of $300,000 to Provide Financial Assistance to Firebrand Artisan Breads to Construct a Retail Caf? at 707 W. Tower Avenue (Project). (Community Development 29061822)
Body
To: Honorable Mayor and Members of the City Council
EXECUTIVE SUMMARY
Firebrand Artisan Breads (Firebrand) has been headquartered in and has operated a production facility at 707 W. Tower Avenue since 2021. Firebrand wants to build out a 1,500 square foot retail caf? (Project) in the same location and is seeking $300,000 in the form of a financial assistance loan from the City of Alameda (City) to realize the Project.
Staff recommends that City Council authorize the Interim City Manager, or designee, to execute a loan agreement (Exhibit 1) to provide $300,000 in financial assistance to Firebrand to complete the Project.
BACKGROUND
In 2021, Firebrand moved into an approximately 40,000-square-foot Alameda facility located on W. Tower Road at Alameda Point. The Alameda facility produces most of Firebrand's breads and pastries and employs the vast majority of Firebrand's employees.
As part of the original buildout, the production facility was designed to allow for a full retail caf? fronting W. Tower Road and much of the initial work on the caf? was completed including, but not limited to, the upsizing of the gas, electric and water lines, tying in of necessary sewer lines, the purchase of a large kitchen hood, and primary architectural design work.
In 2021, Firebrand and City staff had conversations regarding financial assistance to support the buildout of a 1,500 square foot retail caf?. It was the original intention of Firebrand to build a caf? along with the commercial bak...
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