Fiscal Note
The proposed ordinance establishes the Downtown Recovery Program. As structured here, the program will make $250,000 available for eligible businesses in 2020. The ordinance change includes a corresponding resolution (Leg File 61060) that will appropriate funds for the new program.
Title
SECOND SUBSTITUTE - Creating Section 4.33 of the Madison General Ordinances to establish a Downtown Recovery Program Ordinance.
Body
DRAFTER'S ANALYSIS: The purpose of the 2020 Downtown Recovery Program Ordinance is to assist downtown business and building owners with repairing damaged property resulting from rioting starting on May 30, 2020. This Substitute clarifies that the 2020 Recovery Program is available to any business in the City that experienced damage.
***********************************************************************************
The Common Council of the City of Madison do hereby ordain as follows:
1. Section 4.33 entitled “Downtown Recovery Program” of Chapter 4 entitled “Finance” of the Madison General Ordinances is created to read as follows:
“4.33 DOWNTOWN RECOVERY PROGRAM.
(1) Program Rules.
(a) Eligible Applicants:
1. Applicants must be tenants or property owners located within the City of Madison downtown and not have received funds in any way through this program in the past.
2. Applicant’s business or property must be occupied by locally owned and/or controlled businesses and/or located within buildings owned by local residents, as defined as meeting one or more of the of the following criteria:
a. A business or building with at least 50% of the owners residing in Dane County.
b. A business with at least 50% of key managers living in Dane County, and where said managers independently control purchasing decisions, managers make independent decisions regarding the name and look of the business, including marketing, advertising, logo design and branding decisions. Managers make independent decisions regarding business procedures, pra...
Click here for full text