From: Gregory Fearon
To: _CityCouncilListPublic
Subject: [EXTERNAL] Alternate Equity Economic Development Date: Tuesday, November 28, 2023 6:48:20 PM
Greetings!
I watched you fail in the proposed application for state funding to address the economic barriers to impacted BIPOC and low income residents obtaining cannabis permits at tonight’s meeting. The Council should be made aware that $6.4 million in ARPA funds were awarded to the Metro Chamber of Commerce for: Outreach and support services, education, and access to capital to support almost 5,000 small businesses with financial sustainability, with a particular emphasis on BIPOC businesses through the Small Business Equity & Recovery program. As of 9/30/2023, the Chamber has only expended $800,000 of this grant, and is on probation until it can prove that it can expend the remaining $5.6 million granted by the Dec 2024 deadline. I would suggest the City solicit a partnership with the Chamber to undertake a broader approach to the implementation of an economic development equity program for BIPOC and low income Santa Rosa residents.
Gregory Fearon