City Council Agenda and Packet 2020 08 11 SP

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LLityo L 4- CITY COUNCIL COMMUNICATION Louisville AGENDA ITEM 1 COLORADO -SINCE 1878 SUBJECT: APPROVAL OF RESOLUTION NO. 60, SERIES 2020 — A RESOLUTION APPROVING A RECOVERY AND IMPROVEMENT PROGRAM AND A FORM OF GRANT AGREEMENT DATE: AUGUST 11, 2020 PRESENTED BY: MEGAN E. PIERCE, ECONOMIC VITALITY DIRECTOR SUMMARY: At the May 6 and May 22 Economic Vitality Committee (EVC) meetings, the Committee discussed the City's current Business Assistance Program (BAP) and recent applicants, as well as asked staff to explore program alternatives focused on existing business retention and recovery from the COVID-19 pandemic. A proposal for Louisville's Recovery & Improvement Program was presented at the June 19 EVC meeting. The Committee, along with members from Louisville's Revitalization Commission (LRC), provided feedback. The revised program resulting from June 19 was also discussed with the LRC on July 8. Most recently, the EVC reviewed updated program information and a draft application at its July 17 meeting. The Committee provided additional input and recommended advancing the program to City Council for consideration and approval of funding. As with the Emergency Solutions Grant Program in April, any grant program should be approved by legislative action of the City Council, with findings as to the public purpose served by the program. DISCUSSION: The Recovery & Improvement Program shares some similarities with the City's existing Business Assistance Program and with the Emergency Solutions Grant Program launched earlier this year. This program seeks to retain Louisville's existing businesses that are attempting to re -open and recover from the COVID-19 pandemic. The focus has been on creating a structure for grants that fund building projects necessary to transform the way businesses operate as a result of the pandemic as well as improvements to make sure commercial buildings stay vibrant during difficult economic circumstances. Between discussions of the EVC and LRC, staff has developed and refined program criteria, process, and funding. Should the City Council wish to approve this program, the City Attorney has drafted a Resolution (Attachment #1) as well as the form of a Grant Agreement (Attachment #2). An overview of the program, as well as details on eligibility and criteria, is contained in a draft Recovery & Improvement Program application (Attachment #3). As proposed, the Recovery & Improvement Program would be open to all actively licensed brick -and -mortar businesses within the City of Louisville that are current on all CITY COUNCIL COMMUNICATION