Item 11C
Public Hearing
to consider adopting Resolution No. 24-19 – A Resolution adopting policies and procedures for distributing economic development funds to business and/or property owners participating in the Economic Development Business Assistance Plan, and superseding Resolution No. 22-34
1 Background
July 2022 – City Council amended the Economic Development Business Assistance Plan – adding:
Designated Block Downtown Façade Improvement Program
Downtown Artisan/Small Scale Manufacturing Rental Assistance Program Small Business Microloan Program
2 Proposed Additions/Changes
Chapter 2.3 - Downtown Restaurant Assistance Program for Regulatory Requirements Chapter 6 – Chamber of Commerce New Business Welcoming Program
Expand Chapter 2.1 and 2.2 to be Citywide
Restaurant and Retail Assistance, Expansion and Modernization Consolidate Chapter 3.1 into one Citywide Façade Improvement Program
3 Chapter 2.3 - Downtown Restaurant Assistance Program for Regulatory Requirements Intended to help existing businesses from prematurely closing
Max of $20K annually not to exceed a total of $100K over time
Program will terminate if any of the following:
Grantee closes the business for more than 2-weeks; or
Grantee doesn’t stay current with ongoing sales tax payments or previously arranged payment schedules with BOE; or Sales Tax Debt is satisfied by other means
4 Chapter 2.3 - Downtown Restaurant Assistance Program for Regulatory Requirements continued Applications submitted to Economic Development
Submitted to City Council for consideration based on Completion of Application and Attachments
All applications require final approval from City Council
5 Chapter 6 – Chamber of Commerce New Business Welcoming Program In partnership with the Chamber of Commerce through an MOU, this is an effort to provide practical resources to the Bellflower business community
Reimburses Chamber for the cost of new business’s first year of membership including a Grand Opening/Ribbon Cutting Ceremony by the Chamber
Reimbursement of up to $220 based on the business’s number of employees and the Chamber’s membership fee schedule
6 Recommendation
Open the public hearing, take testimonial and documentary evidence, and after considering the evidence, adopt Resolution No. 24-19; or
Alternatively, discuss and take other action related to this item.
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