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 ...
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