Label
Facade Improvement Grant Program Funding
Department of Economic Development
Sandy Spang (Ext. 1641) / Brandon Sehlhorst (Ext. 1692)
Title
Authorizing the expenditure of $210,000 from the General Fund for the Facade Improvement Grant Program; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The Facade Improvement Grant (FIG) program was designed to help property owners transform the facade of commercial, industrial, and mixed-use buildings, thus catalyzing additional development in areas of Toledo that have experienced disinvestment. 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.
The initial funding in the 2022 General Fund budget of $210,000 has been expended,
facilitating exterior improvement of 5 properties, leveraging additional private investment of $579,089 in façade improvements and $2,186,460 in additional building improvements.
Outreach activities by the Department of Economic Development have resulted in increased applications for the program, including applications from neighborhoods that have not received FIG funds previously, including East Toledo, Lagrange, Middle Grounds and South Toledo. The Department has 6 pending applications that are subject to funding availability that are estimated to leverage $2.4 million in additional private investment.
This ordinance requests the expenditure of $210,000 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 Director of Economic Development may award grants and enter into any necessary agreements in accordance with the Facade Improvement Grant program guidelines, subject to the terms and conditions deemed proper and requisite according to the Director of Law, not to exceed the aggregate amount of $210,000.
SECTION 2. That the expenditure of $210,000 is authorized from the Account Code 1001-16400-537400-5661001STDSTD for the Facade Improvement Grant Program.
SECTION 3. That the Finance Director is authorized to issue his warrant or warrants against the account code identified in Section 2 above in amounts not to exceed $210,000 in payment of the obligations incurred pursuant to grants authorized in Section 1 above.
SECTION 4. 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 5. 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 Facade Improvement Grant Program.
Vote on emergency clause: yeas _____, nays _____.
Passed: _________________, as an emergency measure: yeas _____, nays _____.
Attest: ________________________ __________________________________
Clerk of Council President of Council
Approved: _____________________ __________________________________
Mayor
I hereby certify that the above is a true and correct copy of an Ordinance passed by Council ________________________.
Attest: ________________________
Clerk of Council