Title
Public Hearing to Receive Public Comment On Economic Development Expenditures and Appropriations to be Administered by Downtown Greensboro, Incorporated in an Amount up to $250,000 for Property Damage due to Events on May 30 and May 31, 2020 and to Authorize a Resolution Authorizing the Administration of Funds by Downtown Greensboro, Incorporated for Rebuilding Downtown Greensboro
Body
Council Priority: Create an Environment to Promote Economic Development Opportunities and Job Creation
Department: Executive
Council District: All
Public Hearing: June, 16, 2020
Advertising Date/By: June 6 and June 7, 2020/City Clerk
Contact 1 and Phone: David Parrish, 373-2002
Contact 2 and Phone: Larry Davis, 373-2002
PURPOSE:
The purpose of this public hearing is to invite comment for a proposed amendment to the Economic Development Fund Budget, appropriating $250,000 for expenses related to Rebuilding Downtown Greensboro program. The resolution is to authorize administration of up to $250,000 by Downtown Greensboro, Incorporated for Rebuilding Downtown Greensboro.
BACKGROUND:
Following the death of Minnesota resident, George Floyd on May 25, 2020, demonstrations and protests against the use of excessive force by police officers were held globally including the City of Greensboro. Demonstrations were initially peaceful, however, a few groups separated themselves from the peaceful protestors and vandalized and looted businesses on May 30 and May 31, 2020.
Local business owners impacted include minority owned, women owned, millennial owned, and family owned businesses that are key to our community. Not all business owners have insurance that cover damages as a result of rioting. The businesses impacted are approximately fifty (50) with estimates to date of approximately $500,000.
It is proposed for the City to partner with Downtown Greensboro, Incorporated (DGI) to administer the program. DGI has continuously worked with businesses and property owners through the creation of the COVID-19 program which raised over $60,000 to provide 34 days and 3,400 meals to Cone Hospital staff, all the while supporting downtown restaurants, and the creation of Retail Revitalization Grant Program raising $90,000 in order to provide up to $1,500 grant to support downtown retail small business.
The City of Greensboro shall set and conduct a public hearing at the regular City Council meeting on June 16, 2020 at 5:30 p.m. for public comment on the economic development expenditures and appropriations to be administered by Downtown Greensboro, Incorporated in the amount up to $250,000 for property damage due to events on May 30 and May 31, 2020. This ordinance is necessary to appropriate $250,000 for the program. The resolution will authorize the appropriation of up to $250,000 and authorize DGI to serve as administrator for the rebuilding of businesses both in and outside the downtown area of Greensboro.
BUDGET IMPACT:
The funds for this program will require the appropriation of available fund balance in the amount of $250,000. A budget ordinance is necessary to appropriate these funds.
RECOMMENDATION / ACTION REQUESTED:
It is requested and recommended that the City Council conduct the public hearing as scheduled and adopt the attached resolution.