TO: Mayor and Members of City Council
THRU: Kelly Olivera, Assistant City Manager
Jeffrey Yates, Assistant City Manager
FROM: Christopher Cauley, MPA, Economic &
Community Development Director
Kimberly Leonard, CLGFO, CLGBO, CPA, MPA,
Budget & Evaluation Director
Derrick McArthur, Economic Development Manager
DATE: September 23, 2024
RE:
Title
Adoption of a Special Revenue Project Ordinance to appropriate $120,000 from a North Carolina Department of Commerce Rural Economic Development Building Reuse Grant for Phillip's Towing Service, Inc.
end
COUNCIL DISTRICT(S):
Council District(s)
District 2
b
Relationship To Strategic Plan:
Goal II: Responsive City Government Supporting a Diverse and Viable Economy
Goal VI: Collaborative Citizen and Business Engagement
Executive Summary:
The City has been awarded a $120,000 Rural Economic Development Grant from the North Carolina Department of Commerce (NCDOC) for a Building Reuse grant for Phillip's Towing Service, Inc. The Fayetteville-Cumberland Economic Development Corporation (FCEDC), in partnership with the Economic and Community Development Department (ECD), is assisting Phillip's Towing Service, Inc. with funding for a substantial rehabilitation of an existing commercial facility. The company will undertake substantial renovations of its property at 311 Alexander Street, and in turn, guarantee the creation of 10 full-time jobs.
The grant requires that the City provide a five percent (5%), or $6,000, cash match for the project. The Council is asked to adopt Special Revenue Fund Project Ordinance 2025-7 to appropriate $120,000 of grant proceeds and the City's $6,000 match from a General Fund transfer from the existing FY25 ECD operating budget.
Background:
The Building Reuse Program, under the Rural Grants/Programs Section of the North Carolina Department of Commerce, provides grants to local governments. Three categories of funding are available for 1) the renovation of vacant...
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