TO: Mayor and Members of City Council
THRU: Douglas J. Hewett, ICMA-CM, City Manager
FROM: Jeffrey Yates, Assistant City Manager
Kimberly H. Leonard, NCLGBO, NCLGFO, CPA, MPA, Budget and Evaluation Director
DATE: April 22, 2024
RE:
Title
Adoption of Special Revenue Fund Ordinance Amendment 2024-10
end
COUNCIL DISTRICT(S):
Council District(s)
All
b
Relationship To Strategic Plan:
Goal 2: Responsive City Government Supporting a Diverse and Viable Economy
Objective 2.2: Increase the number of businesses and investments through incentives, provision of resources, and an efficient permitting process.
Goal 3: City Investment in Today and Tomorrow
Objective 3.2: Develop actionable plans for smart growth and expansion of city/county edges through responsible, efficient, and effective development, and with appropriate and supportive infrastructure.
Goal 4: Desirable Place to Live, Work and Recreate
Objective 4.1: Improve neighborhoods through resource allocations for beautification and cleanup efforts and infrastructure improvements.
Executive Summary:
The Special Project Ordinance Amendment (SROA) 2024-10 amends SROA 2024-1, which was approved by the board on June 26, 2023, to appropriate additional funding for the Commercial Corridor Improvement Project of $250,000. This amendment is to clarify the scope of SROA 2024-1, which inadvertently referred to a Ray Avenue project in the ordinance attached to the CCAM.
Background:
The Commercial Corridor Improvement Grant Program provides financial and technical design assistance to commercial property owners and business owners located in low- and moderate-income block groups for commercial property exterior improvements. Businesses must provide a 50% match toward these expenses. $1M of ARPA funds were used for this program for FY23 and all funds were expended. General funds were allocated for this program before the availability of ARPA funding and general funds are needed to continue this program. Stimulating private investment in high-quality improvements enhances the appearance of buildings and properties and eliminates blight and non-conforming design standards.
Issues/Analysis:
None.
Budget Impact:
There is no further impact on the General Fund as the funds for the project were already appropriated.
Options:
1. Adopt the proposed Special Revenue Ordinance Amendment 2024-10 to amend the scope of the Special Revenue Ordinance Amendment 2024-1.
3. Do not adopt the proposed Special Revenue Ordinance Amendment 2024-10 to amend the scope of the Special Revenue Ordinance Amendment 2024-1 and provide further direction to staff.
Recommended Action:
Staff recommends that the Council move to adopt the proposed Special Revenue Ordinance Amendment 2024-10 to amend the scope for the Special Revenue Ordinance Amendment 2024-1.
Attachments:
Special Revenue Ordinance Amendment 2024-1
Special Revenue Ordinance Amendment 2024-10