Title
Resolution Calling for a Public Hearing to Receive Input on the Allocation of Economic Development Appropriations to Non-Profit Entities for Fiscal Year 2021-2022
Body
Council Priority: Ensure Fiscal Stewardship, Transparency, and Accountability
Department: Planning
Council District: All
Public Hearing: July 13, 2021
Advertising Date/By: June 15, 2021
Contact 1 and Phone: Sue Schwartz, Ext. 2149
Contact 2 and Phone: Marshall Yandle, Ext. 2149
PURPOSE:
A public hearing to receive input from the general public on the proposed fiscal year 2021-2022 economic development appropriations.
BACKGROUND:
At the July 13, 2021 meeting, City Council will conduct a public hearing on the proposed economic development appropriations to non-profit entities for the 2021-2022 fiscal year.
Pursuant to NCGS § 158-7.1, the City Council must approve all economic development appropriations or expenditures after a public hearing. The following are proposed economic development appropriations and expenditures for FY 21-22:
(a) $600,000 to Piedmont Business Capital Loan Fund to provide loans to small and emerging business;
(b) $195,000 to Downtown Greensboro, Inc. to provide operations and administration of the Ambassador Program;
(c) $130,500 to The Greensboro Area Chamber of Commerce, Incorporated to support new industry recruitment, existing industry expansion and marketing and branding initiatives;
(d) $100,000 to The Greensboro Area Chamber of Commerce, Incorporated for the Launch Lab Accelerator Program to launch businesses and assist them as they grow, expand and hire with an emphasis on minority entrepreneurs and to hire interns to work on special projects;
(e) $100,000 to the Guilford County Economic Development Alliance (GCEDA) for marketing and countywide economic development;
(f) $75,000 to North Carolina Folk Festival for operations and expenses for the 2021-22 North Carolina Folk Festival;
(g) $75,000 to East Market Street Development Corporation for operations and expenses for the implementation of the Urban Economic Development Plan for East Greensboro;
(h) $40,000 to the Greensboro Sports Foundation to host the National Scholastic Athletics Foundation New Balance Nationals;
(i) $35,000 to the NC Piedmont Triad Film Commission to recruit and facilitate the production of feature films, television programs and commercials in the region.
These proposed appropriations are intended to increase the population, taxable property, employment, industrial output, or business prospects of the City of Greensboro.