Revitalization Commission Agenda and Packet 2020 05 06

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Revitalization Commission Minutes April 15, 2020 Page 5 of 7 applications. EVC asked for data to help determine if business type should be a criteria for eligibility Chair Fisher said the grant program does not pass gut check for him. Council member Lipton said some members of City Council have not been involved in EVC. Not everyone will support categories. Filters will reduce the pool. If requests exceed funding of the $250,000 so far contemplated, there might be an opportunity for additional General Fund or LRC funds. He suggested $100,000 of LRC funding for grants to businesses in the URA. Anything from the LRC would be greatly appreciated. Commissioner Gambale said this is challenging to play out. Two or three years from now, our goal is to preserve downtown businesses in the URA. He said the LRC may be upset we did not do more. He said $100,000 is a minimum he would consider. He believes $175,000 - $200,000 would be appropriate. Now is not the time to hold back. We don’t want a ghost town. Director Pierce said if there are not other questions, someone could make a motion to proceed with grant program with amount for Council to approve through a Resolution and agreement. Commissioner Bradfield made a motion to fund the Council grant program with an initial $150,000. Chair Fisher seconded. Commissioner Adler asked if the LRC needed to discuss saving funds for future programs. Chair Fisher said the LRC will need revised financials. Council member Lipton said $150,000 is more than he is comfortable with given the lack of financial information we have. He is more comfortable with $100,000. He feels $150,000 is overly generous. He wants reserve for other programs. He said the LRC will need money for strategic investments for the future. If there is more need than money, Council will add more money. Commissioner Bradfield appreciates Council member Lipton’s points. But as Commissioner Gambale pointed out, we need to put enough money in and this is a reasonable place to start. The LRC contribution of $150,000 gives the City a total of $400,000 and gives leverage with in the URA. Commissioner Adler would like to discuss the work plan to discuss short-term and high priority items. Director Pierce said staff can have revised financials for the May meeting. Director Pierce believes the capital items in the LRC budget can be met considering any commitment made today.