Title
Public Hearing to Receive Public Comment on the Recommended Fiscal Year 2019-2020 Annual Budget
Body
Department: Executive
Council District: All
Public Hearing: Yes
Advertising Date/By: May 23, 2019, City Clerk
Contact 1 and Phone: David Parrish, Ext. 2002
Contact 2 and Phone: Angela Lord, Ext. 2397
PURPOSE:
To receive public comment on the proposed Fiscal Year 2019-2020 Annual Budget.
BACKGROUND:
At the May 21, 2019 meeting, City Council adopted a resolution calling for a public hearing for June 4, 2019 to receive public comment on the proposed Fiscal Year 2019-2020 Annual Budget.
Pursuant to NCGS 158-71. 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 19-20:
a) $300,000 to Piedmont Business Capital Loan Fund to provide loans to small and emerging business;
b) $100,000 to Greensboro Area Chamber of Commerce 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;
c) $250,000 to East Greensboro Now for operations and expenses for the implementation of the Urban Economic Development Plan for East Greensboro and the continuation of the Façade Grant Improvement Program
d) $40,000 to the Greensboro Sports Commission to host the National Scholastic Athletics Foundation New Balance Nationals
e) $75,000 to ArtsGreensboro for operations and expenses for the 2019-20 North Carolina Folk Festival
f) $100,000 to the Guilford County Economic Development Alliance (GCEDA) for marketing and countywide economic development
g) $130,500 to the Greensboro Partnership Economic Development to support new industry recruitment, existing industry expansion and marketing and branding initiatives.