Revitalization Commission Agenda and Packet 2020 09 09

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Revitalization Commission Minutes July 8, 2020 Page 4 of 6 Based on the EVC desire for an efficient process, it is proposed staff would review and approve applications administratively, along with City Manager approval. Grants of up to $10,000 would be awarded, with the applicants pledging 50% of the project cost. The EVC's discussion on funding ranged from $100,000 to $250,000 from the General Fund. The Committee will be reviewing the proposed program again in July, in anticipation of making a recommendation to City Council. Director Pierce and City Manager Heather Balser reviewed the CARES Act funding that Louisville will receive. The City is eligible for $945,000, which must be expensed by the end of 2020. Members of the LRC asked to understand if the Commission might be reimbursed for its $100,000 contribution to the Emergency Solutions Grant Program. City Manager Balser said such reimbursement is not currently under consideration. Director Pierce noted that if LRC wishes to participate, there would be an agreement with City and LRC to specifically fund projects within the Urban Renewal Area (URA). Chair Fisher likes the idea. Commissioner Gambale agrees but has concerns; he likes the criteria being open and looking at sales taxes of businesses. He said 80% of businesses are wondering how they will make it through. Council member Lipton echoes what Commissioner Gamble's comments. He expressed that the LRC grant contribution should not be treated differently than the City's General Fund contribution in terms of the CARES Act funding. Council member Lipton requested the LRC receive the revenue reports that are sent to the City Council to help in understanding the health of the URA. Commissioner Adler asked how does removing business types affect who may apply. Director Pierce noted that in the original grant program, eligibility was limited to 9 business types; this program is proposed to be open to all businesses. The original program probably had around 400 eligible businesses that could apply, whereas this would allow over 740. Commissioner Adler also inquired about making the rolling application process equitable. Director Pierce said she anticipated several weeks to promote and push out information before making the program available; the Chamber and Downtown Business Association will also help spread the word. Agenda Packet P. 6