Lamar Redevelopment Authority Board votes to approve grant requests from The LaMar

At its meeting of March 11, 2024, the Lamar Redevelopment Authority Board voted to approve two grant requests from ZAM, Inc./The LaMar for improvements to its facade and marquee as well as for structural rehab improvements.  The grants are for $20,000 for each project.

The facade/marquee grant will, once the project is finished, reimburse the business, whose projected cost for the project is $171,500.  The largest cost involved in this project is $108,000 for two 4×18 foot LED screens which will replace the original signage.  Also budgeted in this project are $25,000 for electrical work for the LED screens, $20,000 for general labor for painting and marquee repairs, $12,000 for general labor involved with neon rebuilding and repair and $6,500 for repair and replacement of all lighting in the marquee, soffit and facia.

The second grant will be used for structural rehab improvements to the building.  Structural rehab work has already begun for the project, estimated to cost $299,452.  Listed in the application are carpet/flooring installation, painting, remodeling of the upstairs offices, green room, concession areas and more as listed in the official quote submitted.

Both applications say that The LaMar “aims to improve the quality of life of Lamar residents and the surrounding communities.  They plan to increase city sales tax revenues by making the business more profitable.  They project revenues reaching $1.5 million annually.”  ZAM, Inc. owner Monica Sutphin is hoping that The LaMar will open in May of 2024 with their first event.

Both formal agreements, signed by Mayor Kirk Crespin and owner Monica Sutphin, state that work for the projects must be completed no later than December 31, 2024.  Furthermore, the grant total will be distributed upon completion and compliance with the terms in the agreement and will be payable to the owner wihin 30 days of the owner providing copies to the Authority Board of invoices for all expenses incurred and the owner providing evidence that the work has been entirely completed, permitted, inspected and passed inspection by the City of Lamar Chief Building Official.

By Barbara Crimond

 

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