Title
Community Development Block Grant Funded Options for Economic Development
Recommended Action
City Manager Recommendation:
Recommend one or more options shown in Attachments 1 and 2 for economic development activities for Community Development Block Grant-Funded (CDBG) Program Year 2014
Report
Issue:
What options for economic development should Council consider funding in the CDBG PY 2014 Action Plan?
Staff Contact:
Leonard Bauer, CPD Deputy Director, Community Planning & Development, 360.753.8206
Anna Schlecht, Housing Program Manager, 360.753.8183
Brian Wilson, Downtown Liaison, 360.570.3798
Presenter(s):
Leonard Bauer, CPD Deputy Director
Anna Schlecht, Housing Program Manager
Background and Analysis:
The Council referral to General Government was to develop options for CDBG-funded economic activities for Program Year 2014 (PY2014). Staff estimates there will be a total of $642,375 in combined new CDBG grant funds and program income (see "CDBG Budget Worksheet" attachment).
At the February 11, 2014, General Government Committee meeting, Committee members considered a number of options. They stated an interest in continued funding in PY2014 for the Downtown Ambassador program, and directed staff to develop and prepare recommendations on four additional options.
On March 18, 2014, General Government Committee reviewed the four options and stated an interest in funding the CPTED Safety Program. They also requested additional information on a small business loan program.
The "CDBG Budget Worksheet" attachment shows two options for CDBG-Funded Economic Development Activities. The difference between the two options is:
Option 1 allocates all remaining estimated program income to the Isthmus Project
Option 2 allocates $250,000 to a Small Business Revolving Loan Program, with remaining estimated program income (projected to be $126,455) allocated to Isthmus Project.
Attachment 2 provides a concise description of ...
Click here for full text