Inglewood will enter into an agreement with Caltrans to create a Market Street Facade and Tenant Improvement Program with $8.5 million awarded under Senate Bill 170. The City has earmarked between $1-$2million for the restoration and rehabilitation of the Fox Theatre.
According to the staff report, the $8.5 million will be used to fund streetscape improvements and provide grants to business owners along Market Street between Florence Ave and Hillcrest Blvd.
The City seeks local and minority-owned businesses to populate the desolate street as the program commences.
The funds will be deposited into a deferred revenue account so when projects are approved the funds can be disbursed.