SUBJECT/RECOMMENDATION:
Title
Approve the Downtown Commercial Grant Program within the Downtown Clearwater Community Redevelopment Area and authorize the appropriate officials to execute same.
Body
SUMMARY:
The purpose of this agenda item is to request approval for the implementation of the
new Downtown Commercial Grant Program within the DTCRA. This new program will replace all current Business/Commercial Grant Programs available in the DTCRA. Staff is recommending closing out the following grant programs: Essential Equipment Grant, Business Renovation, Economic Recovery Grant, Façade Grant, and Vacancy Reduction. The remaining balances of these programs will be allocated back to R2003-Economic Development-City and a new Program Budget of $800,000 will be established for Downtown Clearwater Commercial Grant Program.
The Downtown Clearwater Commercial Grant Program is designed to streamline the grant process, increase efficiency and better serve the community. These changes will make it easier for community members to apply for grants and for the CRA staff to deliver better customer service. Listed below are a few key components that make the new grant process more customer friendly:
1. Universal application
2. Grant is for both property and business owners (some current grants are only for business owners or just property owners)
3. Consolidated grant offerings into one with a widened scope of services
4. Easier to read tier funding framework
5. Offering retroactive funding (6 months)
6. Upfront funding on deposits
7. Increased % of CRA grant funding
8. Easier to market, promote and communicate one grant program.
9. Easier on CRA staff to provide excellent customer service
As part of the annual budget process funds will be allocated each year to the program to further the goals of the Downtown Redevelopment Plan.
APPROPRIATION CODE AND AMOUNT:
Funds for this new program are available in R2003- Economic Development-City in an amount of $800,000 for FY 2023-2024.
STRATEGIC PRIORITY:
2.1 Strengthen public-private initiatives that attract, develop, and retain diversified business sectors.
2.2 Cultivate a business climate that welcomes entrepreneurship, inspires local investment, supports Eco-friendly enterprises, and encourages high-quality job growth.
2.3 Promote Clearwater as a premier destination for entertainment, cultural experiences, tourism, and national sporting events.
3.1 Support neighborhood identity through services and programs that empower community pride and belonging.
