Revitalization Commission Agenda and Packet 2021 04 14

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Revitalization Commission Minutes March 10, 2021 Page 2 of 6 None. Business Matters of Commission: Resolution 21-03: Approving a Cooperation Agreement Between the City of Louisville and the Louisville Revitalization Commission Regarding Funding for the Small Business Preservation Grant Program Economic Vitality Director Pierce said this item is back to LRC for final approval. The original intent was to provide $150,000 in support of the City Council Small Business Preservation Grant program. This amount, added to the $350,000 Council made available from the general fund, made a total of $500,000 available to be awarded. In the end, 59 grants were awarded at $5,000 each for a total of $295,000. The pro-rata share to the LRC works out to $88,000 rather than $150,000. Commissioner Tofte asked if Director Pierce had feedback as to why there was not more interest from businesses. Director Pierce said there was a short timeline for the application, and some businesses felt they weren't the most in need. Also, there were many other grant and stimulus opportunities at the same time. Chair Alder asked for public comment — none. Commissioner Gambale made a motion to approve Resolution 21-03. Commissioner Smith seconded. Roll call vote: Commissioner Gambale - yes Commissioner Smith - yes Chair Adler - yes Commissioner Gorsevski - yes Commissioner Tofte - yes Commissioner Williams - yes Motion passes • Resolution 21-04: Approving a First Amendment to Public Infrastructure Assistance Agreement for 824 South, Inc. Director Pierce noted that, in 2020, the LRC approved an infrastructure agreement for 824 South, Inc. The project is underway and had some delays. The agreement expired on December 31, 2020 and some costs have increased. The agreement has been discussed by the LRC and a First Agenda Packet P. 3