TO: Urban Renewal Agency Board
THROUGH: Steve Powers, Executive Director
FROM: Kristin Retherford, Urban Development Director
SUBJECT:
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Riverfront Downtown Urban Renewal Area Strategic Project Grant Program
Ward(s): Ward 1
Board Member(s): Stapleton
Neighborhood(s): CANDO
Result Area(s): Welcoming and Livable Community
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ISSUE:
Shall the Agency Board approve a reallocation of Riverfront-Downtown Urban Renewal Area (RDURA) Capital Improvement Grant Program funds in the amount of $100,000 to the Strategic Project Grant Program?
RECOMMENDATION:
recommendation
Approve $100,000 reallocation from the of Riverfront-Downtown Urban Renewal Area (RDURA) Capital Improvement Grant Program to the Strategic Grant Program.
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SUMMARY:
The Strategic Project Grant Program supports the goals of addressing homelessness within the RDURA. These grant funds can be utilized by property owners for safety and security projects for their building and/or property. Due to the continued high demand for Strategic Project Grant Program funds, an increase to the program budget is proposed.
FACTS AND FINDINGS:
A grant program is identified as an eligible project in Sections 1105 and 1108 in the RDURA Plan.
Since the creation of the program in February 2019, seventeen projects have been funded with the Strategic Project Grant Program. To date, a total of $375,000 has been budgeted to the Strategic Project Grant Program and current remaining program budget is an estimated $12,000.
Due to the demand for these grant funds, the Agency Board has previously approved a change to the maximum grant amount from $50,000 to $30,000 and allocated additional funds to the program in order to meet the demand and to process the funding requests.
There will be no operational impacts if the Strategic Project Grant Program funding reallocation is approved.
If approved, the $100,000 would come from the RDURA Capital Improvement Grant Program which currently has a budget of $4.5 million.
BACKGROUND:
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 improvements that help with crime prevention, security, and safety. Eligible projects include fencing, trash/recycling enclosures, exterior lighting, and security cameras systems.
The maximum grant amount approved per project is $30,000. As of April 2021, numerous property owners are interested in taking advantage of the program, but the program lacks sufficient funds to cover the grant requests being submitted.
Due to the continued demand, staff recommends reallocating $100,000 from the RDURA Capital Improvement Grant Program, which currently has a $4.5 million budget, to the RDURA Strategic Project Grant Program.
Rebecca Ziegler
Program Manager
Attachments: None