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Subroy Movement Foundation, Inc. dba Tasche Social Gallery
ID: ED20220201
Inner City Economic Development Loan
County Comission District: 13 | City Council District: 04, 08
Inner City Economic Development Loan
County Comission District: 13 | City Council District: 04, 08
Summary
Terran Gary of Subroy Movement Foundation, Inc. dba Tasche Social Gallery has been awarded a $15,000 Inner City Economic Development (ICED) Loan to help renovate 1730 Lamar Avenue and prepare the space for a selfie gallery. Total qualifying project costs for the ICED program are $22,500.The loan will help Ms. Gary renovate the 3,191 square foot building constructed in 1944 by restoring the original historic corner storefront, repairing interior water damage, and completing exterior streetscape improvements.
Ms. Gary has a bachelor’s degree in non-profit and organizational management from the University of Memphis. She has an extensive background with arts and cultural organizations; and currently manages the Memphis Grizzlies’ Dance Team.
Ms. Gary launched the Subroy Movement Foundation to focus on arts development and infrastructure. Through this endeavor, she plans to open a ten-scene selfie gallery and event space. The space is intended to be accessible to the neighborhood but also attractive to a wide range of visitors from around the region.
The project is supported by Arts Memphis.
Loan Term:
3 years
Interest Rate:
Not applicable
Projected New Jobs:
15
Projected Retained Jobs:
Not applicable
Average Payroll:
Not applicable
Loan Amount:
$15,000
Loan Use:
Not applicable
Total Projected Capital Investment:
$22,500
Real Property:
Not applicable
Acquisition:
Not applicable
Construction:
Not applicable
Renovation:
Not applicable
Machinery & Equipment:
Not applicable
Furniture, Fixtures, Office:
Not applicable
Equipment:
Not applicable
Fees & Soft Costs:
Not applicable
Permanent Working Capital:
Not applicable
Miscellaneous:
Not applicable
Approved
2/16/2022
Closing
Not applicable
Subroy Movement Foundation, Inc. dba Tasche Social Gallery
1730 Lamar Ave, Memphis, TN 38114- Term Sheet
- Application
- Resolution