Fiscal Note
The proposed resolution authorizes changes to the administration of the Building Improvement Grant (BIG) program. No appropriation required.
Title
Approving adjustments to the Building Improvement Grant Program.
Body
WHEREAS, Common Council adopted RES-22-00497 on 07/12/2022 and RES-25-00127 on 02/25/2025 approving the Building Improvement Grant; and,
WHEREAS, the City has provided over one hundred grants over the last five years; and,
WHEREAS, Economic Development staff has learned best practices in receiving, processing and granting these awards; and,
WHEREAS, the number of Tax Increment Finance Districts funding these awards has grown and staff is dedicated to continuing to grow the program when funding is available; and,
WHEREAS, staff in consultation with the Economic Development Committee recommend changes to the program, including, eliminating property owners from eligibility unless they are also the business owner operating in the space, and other administrative changes.
NOW THEREFORE BE IT RESOLVED that the Common Council approves the attached amended and restated Program Guidelines and Application for the Building Improvement Grant Program; and
BE IT FINALLY RESOLVED that Economic Development Division Staff are authorized to make further administrative modifications to the Program Guidelines and Application for the Building Improvement Grant Program.