In researching other cities programs, staff is recommending to provide two types of grants with varying amounts:
1. Non-Matching Grant: this grant will provide a grant of up to $25,000 for commercial building façade improvements with no matching requirements; or
2. Matching Grant: this grant will provide a matching grant of up to a maximum of $40,000.
Receipt of a matching grant requires the approved applicant to contribute a dollar-for- dollar match of the total grant amount.
Should the program be approved to move forward, staff would first seek a qualified consultant to provide input and complete the program guidelines for Council approval, and implement the program after the guidelines are approved. With the grant amounts stated above, staff anticipates providing 5-8 façade improvement projects during the initial 12-month pilot period, beginning July 1, 2023. At the end of the 12-month period, staff would report back to Council on the accomplishments and make a recommendation on either continuing or stopping the program based on the success of the program and the financial feasibility of the City.
If approved by the City Council, the pilot program would require a budget amendment of $250,000 of general funds for FY 2023-24. Of this amount, approximately, $50,000 or twenty percent (20%) would be used for consulting services to finalize guidelines and implement the program. An initial amount of $10,000 for the current fiscal year would be needed in order for staff to work with a consultant to finalize the guidelines and other necessary documents.
At this time, staff respectfully recommends that Council approve the establishment of a pilot Commercial Façade Improvement Program for an initial 12-month period, beginning July 1, 2023.
LEGAL REVIEW:
N/A
CONCLUSION:
Staff respectfully recommends that Council approve the establishment of a pilot Commercial Façade Improvement Program for an initial 12-month period, beginning July 1, 2023, and authorize $10,000 of general funds for FY 2022-23 and $250,000 of general funds for FY 2023-
24. FISCAL IMPACT:
General Funds FY 2022-2023: $10,000 and General Funds FY 2023-2024: $250,000
Submitted by: ___________________________________ Date: 3/14/2023
Prepared by: Jackie Choi
Greg S. Tsujiuchi
ATTACHMENTS
1. Draft Program Guidelines