Label
Legacy Corridor Business Resilience Grant Program
Department of Economic Development
Brandon Sehlhorst (Ext. 1692) / April Welch (Ext. 1409)
Title
Authorizing the Mayor and Department of Economic Development to implement a Legacy Corridor Business Resilience Grant Program; authorizing the Mayor to enter into program grant agreements; authorizing the expenditure of $100,000 from the General Fund for the Legacy Corridor Business Resilience Grant Program; authorizing, subject to annual appropriations, the expenditure of funds from the General Fund for the Legacy Corridor Business Resilience Grant Program; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
Small businesses are the backbone of Toledo’s local economy, contributing to community vitality and economic stability for residents. Many of these businesses are located along the City’s Legacy Commercial Corridors - long-standing corridors that have historically served as a hub for commercial activity within residential neighborhoods.
The Legacy Corridor Business Resilience Grant (LCBRG) Program is designed to support small businesses located directly on designated Legacy Commercial Corridors that are being improved by a City road reconstruction project. The program provides a one-time grant for operating expenses.
This ordinance authorizes the expenditure of $100,000 and, subject to annual appropriation, the expenditure of funds from the General Fund for the Legacy Corridor Business Resilience Grant Program, to be administered by the Department of Economic Development.
Summary
NOW THEREFORE Be it ordained by the Council of the City of Toledo:
SECTION 1. That the Mayor and Department of Economic Development are authorized to implement a Legacy Corridor Business Resilience Grant Program.
SECTION 2. That the Mayor is authorized to award Legacy Corridor Business Resilience Grants and enter into any necessary agreements subject to terms and conditions deemed proper and requisite according to the Director of Law and the Director of Economic Development.
SECTION 3. That the expenditure of $100,000 is authorized from the Account Code 1001-16400-5661001LCBRGP for the Legacy Corridor Business Resilience Grant Program.
SECTION 4. That, subject to approved annual appropriations, expenditures are authorized from the General Fund Account Code 1001-16400-5661001LCBRGP for the Legacy Corridor Business Resilience Grant Program.
SECTION 5. That the Finance Director is authorized to issue warrant or warrants against the account code identified in Sections 3 and 4 in payment of the above authorized obligations upon the proper voucher or vouchers.
SECTION 6. That it is found and determined that all formal actions of Council concerning and relating to the passage of this Ordinance were adopted in an open meeting of Council and that all deliberations of Council and any of its committees that result in such formal action were in meetings open to the public in compliance with all legal requirements, including Section 121.22, Ohio Revised Code.
SECTION 7. That this Ordinance is declared to be an emergency measure and shall take effect and be in force immediately from and after its passage. The reason for the emergency lies in the fact that same is necessary for the immediate preservation of the public peace, health, safety and property and for the further reason that this Ordinance must be immediately effective to facilitate the Legacy Corridor Business Resilience Grant Program.
Vote on emergency clause: yeas 11, nays 0.
Passed: October 9, 2024, as an emergency measure: yeas 11, nays 0.
Attest:
Julie A. Gibbons Carrie Hartman
Clerk of Council President of Council
Approved: October 9, 2024
Wade Kapszukiewicz
Mayor