Title
Ordinance in the Amount of $100,000 Amending the Economic Development Fund
Body
Council Priority: Create an Environment to Promote Economic Development Opportunities and Job Creation
Department: Executive
Council District: All
Public Hearing: NA
Advertising Date/By:
Contact 1 and Phone: David Parrish, 373-2002
Contact 2 and Phone: Jon Decker, 373-2291
PURPOSE: To amend the Economic Development Fund for additional economic development appropriations to nonprofit entities.
BACKGROUND: There was a public hearing for proposed appropriations for economic development to nonprofit entities held on June 4, 2019, with no speakers. Council directed the amount for Piedmont Capital be increased from $300,000 to $400,000.
BUDGET IMPACT: This ordinance will increase Economic Development Fund appropriations by $100,000, and will be funded through the appropriation of available fund balance.
RECOMMENDATION / ACTION REQUESTED: It is requested and recommended that City Council adopted the attached ordinance amending the Economic Development Fund by $100,000.