TO: Urban Renewal Agency Board
THROUGH: Steve Powers, Executive Director
FROM: Kristin Retherford, Urban Development Director
SUBJECT:
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Increased funding for FY 2018-19 Riverfront-Downtown Urban Renewal Area (RDURA) Strategic Project Grant Program
Ward(s): Ward 1
Board Member(s): Kaser
Neighborhood(s): CANDO
Result Area(s): Welcoming and Livable Community.
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ISSUE:
Shall the Agency Board approve an allocation of $75,000 of RDURA Capital Improvement Program Grant Funds to the Strategic Project Grant Program?
RECOMMENDATION:
recommendation
Approve allocation of $75,000 of RDURA Capital Improvement Program Grant Funds to the Strategic Project Grant Program.
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SUMMARY:
On February 25, 2019, the Agency Board approved the Strategic Project Grant Program to support the goals of addressing homelessness within the RDURA by providing grant funds for building and property improvements that help with crime prevention, security and safety. Eligible projects include fencing, trash/recycling enclosures not attached to a building, lighting, façade improvements, and security cameras.
Initially $100,000 of FY 2018-19 RDURA Capital Improvement Grant Program funds were allocated to support the Strategic Grant Program. As of May 7, 2019, $98,387 of the $100,000 Strategic Project Grant budget has been committed to five projects. Strategic Project Grant funds will be used to make building improvements including trash enclosures, security fencing and gates, lighting upgrades, and security camera systems.
FACTS AND FINDINGS:
A grant program is identified as an eligible project in Sections 1105 and 1108 in the Riverfront-Downtown Urban Renewal Plan.
On May 23, 2019, the Downtown Advisory Board approved recommending Agency Board support of the $75,000 of Capital Improvement Program Grant funds to the Strategic Project Grant Program.
If approved, the FY 2018-19 Capital Improvement Grant Program Budget of $6.9M will be reduced by $75,000, to increase funding for the Strategic Project Grant Program.
BACKGROUND:
Staff has received a great deal of interest for the Strategic Project Grant Program funds and has had conversations with several property owners who are in the process of securing bids in anticipation of submitting an application for funding prior to the end of this fiscal year. Approval of an application is based on fund availability. Staff estimates that grant requests over the next two months will exceed the remaining balance of $2,316.
In order to have funds available for qualified projects, staff is requesting an allocation of $75,000 of RDURA Capital Improvement Grant Program funds to support the Strategic Project Grant Program.
Sheri Wahrgren
Downtown Revitalization Manager
Attachments: None