TO: Mayor and Members of City Council
THRU: Kelly Olivera, Assistant City Manager
FROM: Christopher Cauley, MPA, Economic &
Community Development Director
DATE: September 23, 2024
RE:
Title
Letter of Support $180,000 and Grant Match Commitment - The Tulsa Initiative, Inc. Grant Application to the U.S. Economic Development Administration
end
COUNCIL DISTRICT(S):
Council District(s)
All
b
Relationship To Strategic Plan:
GOAL II: The City of Fayetteville will have a Responsive City Government supporting a diverse and viable economy.
GOAL VI: The City of Fayetteville will continue to have a collaborative citizen and business engagement base.
Executive Summary:
City Council is asked to approve a letter of support and grant match funding for The Tulsa Initiative, Inc. in the amount of $180k ($90k per year for two years) to support their competitive grant application to the U.S. Economic Development Administration (EDA). Funds would be made available through unappropriated interest earnings from the American Rescue Plan Act (ARPA) funds. Interest earnings are not Federal funds and are treated as general revenue per the U.S. Treasury's guidance on ARPA. City Council is asked to authorize the Mayor to sign the letter. Once a grant award is received, a subsequent budget action will be presented to City Council to appropriate the required grant match.
Background:
The EDA has been engaging with the Tulsa Initiative, Inc. about a potential application to EDA to spur entrepreneurship and job creation/business expansion in Fayetteville, with a specific emphasis on serving Black, Indigenous, People of Color (BIPOC) community. EDA grants are competitive, and the agency receives more applications than can be funded. One of the factors for eligibility and competitiveness is the availability of Matching Share funds. EDA requires 50% match in most cases, and this match posture is the most competitive posture.
Any funds allocated to an EDA project mu...
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