ADMINISTRATIVE REPORT
MEETING DATE: January 27, 2025 AGENDA CATEGORY: New Business TO: Finance, Economic Development and Jobs Committee
FROM: Jennifer M. Byers, Economic and Community Development Director DATE: January 23, 2025
SUBJECT: Economic Opportunity Area Overview and Downtown Competitive Program
Overview of the existing Economic Opportunity Area (EOA) Program and selection of applications for the Downtown Competitive Program.
RECOMMENDATION:
Staff recommends the Board provide direction regarding the Economic Opportunity Area Program and Competitive EOA selection
BACKGROUND:
On October 3, 2024, the City released the Competitive Downtown Economic Opportunity Area (EOA) Notice of Funding Availability for property and/or business owners. The City allocated $400,000 for the 24/25 fiscal year.
ECD staff hours were available Monday through Friday by appointment and open office hours for assistance were provided every Wednesday between 2-4 pm. On October 10, 2024, an online webinar was held to provide information and answer questions. The webinar was recorded and made available on the City’s webpage. Additionally, the City partnered with the Downtown Business Association to further assist interested applicants.
On December 2, 2024, the application period closed. A total of 16 applications were received requesting a total of $1,419,265. The applications were screened, and several were found to be missing documentation required with the application or applied for items specifically listed as ineligible such as HVAC equipment.
A team of ECD staff scored the applications based on the criteria with points that supported the goals of the Making Downtown Vision Plan and/or the Downtown Streetscape Plan. At this time, staff proposes that four businesses be awarded full or partial funding: Arts Council of Kern ($116,500); Flores Vintage Finds ($32,500); Moo Creamery ($40,000) and Distinctive Coach Auto Body and Paint ($20,000).
Staff proposes to provide the remaining applicants the opportunity to complete or provide required documentation by March 14, 2025, with no new applications. These applicants would be required to meet with staff by February 21st in order to be considered in this bonus round.
FISCAL IMPACT: The Economic Opportunity Area program was approved in the FY 2024-25 budget
COUNCIL GOAL:
Economic Opportunity for All
ATTACHMENTS:
1. EOA Activity Report
2. Downtown Competitive EOA NOFA