TO: Urban Renewal Agency Board
THROUGH: Steve Powers, Executive Director
FROM: Kristin Retherford, Urban Development Director
SUBJECT:
title
Riverfront-Downtown Urban Renewal Area Capital Improvement Grant Program Policy Amendment.
Ward(s): Ward 1
Board Member(s): Kaser
Neighborhood(s): CANDO, Grant
end
ISSUE:
Shall the Agency Board adopt Resolution No. 17-3 URA approving a revision to the Riverfront-Downtown Urban Renewal Area Capital Improvement Grant Program Policies to add the objective of Exterior Beautification Projects?
RECOMMENDATION:
recommendation
Adopt Resolution No. 17-3 URA (Attachment 1) approving a revision to the Riverfront-Downtown Urban Renewal Capital Improvement Grant Program Policies to add the objective of Exterior Beautification Projects.
body
SUMMARY AND BACKGROUND:
On May 12, 2014, the Agency Board approved the Riverfront-Downtown Urban Renewal Area (RDURA) Capital Improvement Grant Program. The grant program was created to leverage RDURA funds with private sector capital to encourage new development, rehabilitation, increased land values, and business retention and growth within the RDURA. Currently there are six Capital Improvement Grant Program Objectives:
• New Construction;
• Mixed-Use - including housing;
• Upper Floor improvements;
• Alley improvements;
• Expansion of existing business, retention, or recruitment of a new business that results in jobs; and
• Historic Preservation - projects that require Historic Landmarks Review.
The only objectives that currently support exterior improvements are Historic Preservation or if exterior projects were included as part of interior renovations that meet an objective. The addition of the proposed program objective would allow all building types to have access to grant funds for exterior renovations, including facade improvements such as windows, doors, awnings, and permanent infrastructure for outside seating areas. Because removal of blight is a key objective of the Riverfront-Downtown Urban Renewal Plan, including a financial incentive that supports and encourages exterior beautification is recommended.
FACTS AND FINDINGS:
On April 27, 2017, the Downtown Advisory Board approved a recommendation to the Agency Board to amend the Riverfront-Downtown Urban Renewal Capital Improvement Grant Program Policies to add the program objective of Exterior Beautification Projects.
The proposed change is as follows (old text is struck out and new text is underlined):
III. Program Requirements
(3) Grant Conditions. Each grant shall be subject to the following conditions:
B. All Projects must meet one of the Strategic Action Plan Objectives: 1) New Construction; 2) Mixed-Use - including housing; 3) Upper Floor improvements that make currently un-leasable space to a level it can be occupied; 4) Alley improvements; 5) Expansion of existing business, retention or recruitment of a new business that results in creating new jobs; and 6) Historic Preservation projects that require Historic Landmarks Review; and 7) Exterior Beautification Projects.
Sheri Wahrgren
Downtown Revitalization Manager
Attachments:
1. Resolution No. 17-3 URA