SUBJECT/RECOMMENDATION:
Title
Adopt New Grant Funding Request Policy
Body
The Downtown Development Board has a long history of providing grants on an annual basis to non-profit organizations, businesses and property owners who are assisting in the revitalization of downtown. In the past five years, most of the funding has been for special events. In March 2020, CRA staff had a discussion with the Board on how to amend the current funding process to streamline and diversify funding requests, to incentivize grant requests that align with the adopted work plan and to provide flexibility to consider requests throughout the fiscal year.
The proposed grant funding policy establishes an updated process and guidelines for the consideration of funding requests by the DDB. This policy incorporates feedback and direction given by DDB members at the March 2020 meeting. Highlights of the proposed policy include:
1. Funding requests will be considered on a rolling basis in the following categories: Marketing, Business Assistance and Project/Policy Work. The DDB will allocate a defined amount of funding for each category during their annual budget process. The DDB will prioritize requests that align with the adopted work plan.
2. The applicant will fill out a funding request form and submit to CRA staff. CRA staff will email DDB members to solicit questions and comments. After feedback is received, the request will be heard at the next available DDB meeting. The DDB may choose to grant funding, deny funding or continue to another meeting.
3. All property owners, businesses and projects that will occur in the DDB district are eligible for funding.
4. Funding requests must comply with state, local and DDB ordinances and policies.
The proposed process provides increased flexibility and clarity for DDB members, CRA staff and grant applicants to assist with the revitalization of downtown. Your approval of this new policy is recommended.