TO: Mayor and Members of City Council
THRU: Doug Hewett, City Manager, ICMA-CM
FROM: Robert Van Geons, President and CEO, Fayetteville Cumberland Economic Development Corporation
Brook Redding, MPA, PMP, Special Projects Manager
DATE: December 9, 2024
RE:
Title
Review and Approval of the Can Do Grant Program with FCEDC
end
COUNCIL DISTRICT(S):
Council District(s)
ALL
b
Relationship To Strategic Plan:
Supports the City's goals of fostering economic development, supporting small businesses, and building a resilient workforce.
Executive Summary:
The Can Do Grant Program allocates $2.5 million in ARPA funds to support local businesses and economic development in Fayetteville. This program, administered by the Fayetteville Cumberland Economic Development Corporation (FCEDC), will distribute grants to eligible businesses based on established milestones and deliverables. Staff requests City Council's approval of the program framework with FCEDC to initiate funding disbursement.
Background:
The Can Do Grant Program is part of the City's ARPA-funded initiatives to address economic challenges caused by COVID-19 and aligns with Council's strategic goals of fostering economic vitality and workforce development. On December 12, 2022, Council held a public hearing and unanimously authorized the City Manager to execute a contract with the Community Development Foundation (CDF), a local 501(c)(3), to support the Economic Equity Venture Capital Fund. This fund would address local economic disparities and was developed in collaboration with the FCEDC.
The Can Do Grant Program is an evolution of this initiative, designed to provide measurable and impactful economic development opportunities. Staff is now presenting the program framework to Council for review and approval, allowing the City Manager to finalize and execute the agreement with the FCEDC to implement the program. This structure includes grant milestones, eligibility criteria, and reporti...
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