Economic Vitality Committee Agenda and Packet 2020 04 13

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ECONOMIC VITALITY COMMITTEE SUBJECT: DISCUSSION/DIRECTION/ACTION- SMALL BUSINESS EMERGENCY SOLUTIONS GRANT PROGRAM DATE: APRIL 13, 2020 PRESENTED BY: MEGAN E. PIERCE, ECONOMIC VITALITY DIRECTOR SUMMARY: On April 7, 2020, the City Council considered financial assistance to small businesses in Louisville that have been significantly impacted by the COVID-19 pandemic. City Council directed the Economic Vitality Committee to further evaluate the Emergency Solutions Grant program, including possible structure, criteria, and administration. DISCUSSION: As reference for the City Council discussion, attached is the PowerPoint from April 7, including an outline of the Emergency Solutions Grant Program considerations. Council had general consensus on several factors relating to structure and eligibility, including: • Initial program funding of $250,000 from the General Fund; • Applicants must be licensed brick-and-mortar businesses within Louisville; • Applicants must be current on all City accounts at time of application (such as remittance of Sales Tax); • Information provided should be as of or beginning on March 10, 2020, the date of Colorado’s State of Emergency Declaration; and • Business must have fewer than 50 employees (total headcount), or 25 FTEs. The Council’s dialogue focused on how an application should help determine a business is in good standing, and whether the grants should be prioritized to types of businesses that have the most impact on City revenue or that have been deemed non- critical under the public health orders. Council’s conversation also frequently revolved around the appropriate balance between a simple application and efficient process and the data that may be necessary to collect to truly determine the business needs and viability to re-open. In addition to confirming general program eligibility criteria and the application questions and requirements, there are three outstanding structure questions to be determined: • Program timeline (specified deadline vs. rolling application period) • Individual grant amounts (one grant level or tiered amounts) • Review process (staff or selected committee) The City Council briefly discussed some of the sensitive information (tax returns, revenue data, etc.) that will be gathered through the application and the possible record implications. Staff has confirmed with the City Attorney that any submissions related to the grant program application will be public records. Staff has included language in the Agenda Packet P. 5