PRESENTER: Presenter
Jeff Jewell, Economic and Community Development Director
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SUBJECT: Title
Continued discussion and possible action on a TIRZ 3 Grant Program
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DEPARTMENT: Economic and Community Development
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COUNCIL DISTRICTS IMPACTED: 1, 5
BACKGROUND INFORMATION:
At the May 11, 2023 regular meeting, the Board discussed creating a TIRZ funding program to aid downtown infill occupancy, redevelopment, historic preservation, infrastructure and façade improvements, asbestos abatement, fire sprinkler system updates/installation, code updates, and ADA accessibility modifications. The Board offered ideas for project criteria, application requirements, broad vs. narrow project types, application deadlines, maximum award payouts, the potential for partial awards, implementing fiscal analyses, the potential to offer loans, and in-person presentations.
At the June 8, 2023 regular meeting, the Board continued these discussions and directed staff to move forward with the creation of a TIRZ Grant Program policy, process flow chart, and preliminary online application. The Board convened again on July 13, 2023 to continue the grant program discussion and to review a preliminary project grading metric.
Staff will present a final project plan, flow chart, and application for Board approval.
ISSUE:
Finalizing the Board’s next steps for incentivizing downtown projects through a managed grant program.