City Council Agenda and Packet 2020 04 17 SP

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SUBJECT: RESOLUTION NO. 31, SERIES 2020 DATE: APRIL 17, 2020 PAGE 2 OF 3 Submit a W-9 • Supply a Certificate of Good Standing from the Colorado Secretary of State The EVC recommended to not require a 2018/2019 filed Tax Return as originally contemplated in the draft application. Furthering the Council's direction to allocate $250,000 of funding to the grant program, the EVC recommends awarding $5,000 grants; it was felt this balances the desire to provide a true assistance to those struggling and being able to help a number of local businesses. The Committee also recommends a structured review process with a short application window rather than a rolling acceptance/approval (first come, first served). Staff believes a three business day submission timeline would meet the EVC's desire. At the time of this report, the EVC is still discussing the other specific criteria and questions that will make up the Emergency Solutions Grant Program Application. Following the Monday meeting, staff is gathering data on the number of types of businesses by category and also revising/reframing areas of the application so that they may be more objectively reviewed or ranked. Revisions to the draft application between the Monday and Wednesday EVC meetings will concentrate on type of business, impact due to business closure or restriction, including impacts to profits and business losses, and actions the business is taking to be sustainable. Staff will plan to post and circulate the application package for consideration at the City Council meeting on April 171" as soon as possible. ;1IRiey_1NIlyiI2-IT"5 On April 7, the City Council proposed an initial amount of $250,000 for the Emergency Solutions Grant program; this funding would be from the City's General Fund. PROGRAM/SUB-PROGRAM IMPACT: The Emergency Solutions Grant program is related to the sub -program objective to maintain positive business relationships throughout the community and to attract and retain a diverse mix of businesses within Louisville. RECOMMENDATION: Staff recommends approval of the Resolution to launch the Emergency Solutions Grant program for small businesses within the City of Louisville. ATTACHMENTS: 1. Resolution 2. Emergency Solutions Grant Program Application (to be attached later) CITY COUNCIL COMMUNICATION