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Revitalization Commission <br />Minutes <br />January 13, 2021 <br />Page 6 of 9 <br />Commissioner Gambale - yes <br />Commissioner Gorsevski - yes <br />Commissioner Williams - yes <br />Commissioner Smith - yes <br />Motion passes <br />• Discussion/Direction- Participation in the City of Louisville's Small <br />Business Preservation Grant Program <br />Director Pierce said the City offered two grant programs in 2020. Staff was <br />asked to develop additional recommendations for business support during the <br />continuing pandemic. Staff recommended funds are needed for short-term <br />support to the Economic Vitality Committee (EVC) in December. At their <br />January 5, 2021 meeting, City Council approved a Small Business Preservation <br />Grant program. This program will launch at noon on January 13 and be open <br />through Friday, January 15. <br />Today, staff asks the LRC to consider participation in the Small Business <br />Preservation grant program with a contribution of $150,000. <br />Director Pierce reviewed the program components and eligibility approved by <br />City Council, which is also outlined in the agenda packet. Grants will be in the <br />amount of $5,000.00 for eligible businesses. Director Pierce said this program <br />links with LRC's purpose. Long term vacancies in Urban Renewal Area (URA) <br />could contribute to blight. Funds contributed to the program by the LRC would <br />be granted to businesses in the URA. LRC's action would ensure URA <br />businesses have funding rather than competing with all those eligible in the pool <br />of applicants. As part of the application, businesses must attest they have <br />financial hardship. <br />Council member Leh thanked Director Pierce for all her work. He thanked LRC <br />for their previous contributions. He said Council chose to offer grants to those <br />businesses that generate sales tax but also that have been severely restricted <br />in operations. He supports the LRC contributing to the program. Commissioner <br />Gambale echoes Council members Leh's comments and said downtown <br />businesses are in "double jeopardy," and he would consider a higher <br />investment by the LRC. <br />Commissioner Smith asked if there has been discussion by Council on how to <br />support those who have office space in Louisville? How do we maintain office <br />Agenda Packet P. 8 <br />