Label
Facade Improvement Grant Program
Department of Economic Development
Sandy Spang (Ext. 1641) / Brandon Sehlhorst (Ext. 1692)
Title
Authorizing the Mayor and Department of Economic Development to implement a Facade Improvement Grant ("FIG") Program; approving and authorizing the execution of agreements and other documents which are required from time to time in the execution of the FIG program; authorizing the expenditure of $200,000 from the General Fund for the Facade Improvement Grant Program; and declaring and emergency.
Body
SUMMARY & BACKGROUND:
The Vibrancy Initiative was established to enhance the City's vitality by supporting revitalization efforts that will create jobs, reduce blight, and preserve and improve structures throughout the City. The Vibrancy Initiative is a comprehensive approach to revitalization that addresses building exteriors through the Facade Improvement Grant ("FIG"), and vacant first floor commercial interiors through the White Box Grant.
The (FIG) program is designed to help property owners transform the facade of commercial, industrial, and mixed-use buildings located in low- to moderate-income census tracts. The program provides a matching grant of $10,000 to $40,000 to reimburse eligible expenses associated with a comprehensive facade improvement. Building owners are required to provide a 50% match and must either occupy the space as a business owner or actively market the space for lease.
This ordinance requests the expenditure of $200,000 from the General Fund for the Facade Improvement 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 hereby authorized and directed to implement a Facade Improvement Grant program pursuant to the program guidelines provided in Exhibit A, attached hereto and incorporated herein.
SEC...
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