HomeMy WebLinkAboutCRA-R-10-0032 Cover Memo 4-26-2010Omni Board of Commissioners Meeting
April 26, 2010
OMNI REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Marc D. Sarnoff
and Members of the CRA Board
Date: April 16, 2010 File: 10-00530
Subject: Resolution authorizing additional funding for
the Small Business Economic Stimulus and
Job Creation Grant Program.
From: James H. Villacorta References:
Executive Director
Enclosures: Legislation
BACKGROUND:
It is recommended that the Board of Commissioners of the Omni Redevelopment District Community
Redevelopment Agency ("CRA") approve and adopt the attached Resolution authorizing additional funding, in
an amount not to exceed $50,000, for the CRA's Small Business Economic Stimulus and Job Creation Grant
Program.
This Program was developed to make funds available to small businesses within the Redevelopment Area, and
allow them to better weather the current economic slowdown. The Program provides grants for equipment and
fixtures, interior renovations, insurance, security systems, marketing and advertising, and utilities. Additional
funding is needed to serve small businesses within the Redevelopment Area that are still affected by the
economic slowdown. The maximum allowable grant under the program may not exceed $5,000.
JUSTIFICATION:
Section 4.4, B., at page 41, of the 2009 Omni Area Redevelopment Plan, lists "[p]rovid[ing] employment
opportunities and upward job mobility for residents," as stated redevelopment objectives.
This Resolution carries out these objectives.
FUNDING: $50,000 from Omni Tax Increment Fund, "Other Grants and Aids," Account Code No.
10040.920101.883000.0000.00000.