Economic Vitality Committee Agenda and Packet 2020 05 22

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SUBJECT: GRANT PROGRAM OUTCOME ANALYSIS DATE: MAY 22, 2020 PAGE 2 OF 4 Grant Program Recipients 70 Monthly Filers (36 GF, 20 URA) 56 Quarterly Filers (all GF) 14 1 Eligible But Insufficient Funds 53 Quarterly Filers (5 City, 3 URA) 8 Annual Filers (22 City, 23 URA) 45 Grant checks were mailed on April 30, and on May 1, staff distributed letters and emails to all program applicants. Staff is continuing to receive and respond to applicant questions on the process used to review applications and determine eligibility. For the discussion below, please reference Attachment #1 for the questions in the Additional Information section of the web application form and Attachment #2 for the graphs, charts, and comments staff has prepared for analysis. In total, 180 grant applications were received. Since the Additional Information section was not required, you will notice a wide range in the number of responses to each question. Also, please be aware that on certain questions, respondents could select more than one answer; in those cases, staff has provided a total count of responses as well as the actual number of respondents to that particular question. In addition to the questions that could be analyzed numerically, this section included two open ended questions; these are also provided in the analysis document (with names of specific businesses redacted). There were grant applicants in all eligible business types. Businesses were forced to select an eligible type on the web form, even if it was later determined they were not licensed in that category. The majority of grant applicants were in the Health/Medical Services (28.33%) and Eating & Drinking Places (25.56%) categories. All applicants were required to have 25 or fewer full-time equivalent employees as of March 10, 2020; we used both FTE and headcount for data verification. The majority of grant applicants indicated a headcount of five employees or fewer (52.22%) as of the Governor's Emergency Declaration —over 75% of respondents had 11 employees or fewer, meaning the program achieved the goal of targeting small businesses in Louisville. The majority of our applicants were monthly Sales and/or Use Tax filers (43.89%). As the table on the prior page demonstrates, we were able to fund all monthly filers that applied and met the eligibility requirements. The grant program also received many applications from yearly filers (30.56%). Staff conversations with yearly filer applicants tend to indicate they may not have fully contemplated a lower likelihood of funding because all monthly and quarterly filers would be prioritized first. Over 57% of applicants stated they had reduced their employee headcount since March 10. 43% of respondents to that survey question said they had not reduced headcount, Agenda Packet P. 8