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CXtY°.f BUSINESS RETENTION AND <br />Louisville DEVELOPMENT COMMITTEE <br />COLORADO -SINCE 1.878 <br />SUBJECT: DISCUSSION- LOUISVILLE'S RECOVERY & IMPROVEMENT <br />PROGRAM UPDATE <br />DATE: AUGUST 3, 2020 <br />PRESENTED BY: MEGAN E. PIERCE, ECONOMIC VITALITY DIRECTOR <br />SUMMARY: <br />In July, staff shared updates on business support during re -opening from the pandemic, <br />including Louisville's Recovery & Improvement Program. This program is currently <br />under consideration by the Economic Vitality Committee (EVC), and was most recently <br />reviewed at the Committee's July 17 meeting. <br />DISCUSSION: <br />A copy of the EVC's meeting materials from July 17 are included as Attachment #1. <br />Staff gathered additional feedback on the program, which will inform advancing this <br />program for City Council consideration in either late July or early August. <br />In July, the EVC suggested editing or adding criteria so that businesses could <br />incorporate public art and solar panel installation as potential projects. Staff will also <br />draft a list of applicable projects to accompany the application. The EVC affirmed that <br />the program would be open to all brick -and -mortar businesses in Louisville, regardless <br />of size or type. Based on Committee direction, staff will propose the program receive <br />$150,000 in initial funding from the General Fund, those this amount may be eligible for <br />CARES Act funding the City of Louisville has received. The program will be in place <br />through at least December 31, 2020. <br />Staff is currently working on incorporating the above input for presentation to City <br />Council, as well as coordinating with the City Attorney and Finance Director on the <br />planned process and program administration envisioned. Based on the BRaD <br />Committee's last discussion, members can be good advocates for this program as well <br />as volunteer time to assist businesses with project ideas and application requirements. <br />RECOMMENDATION: <br />Review the proposed Recovery & Improvement Program and provide feedback to staff <br />about BRaD's program support or involvement. <br />ATTACHMENTS: <br />• Attachment #1: EVC Memo, Louisville's Recovery & Improvement Program <br />Proposal July 17, 2020 <br />