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RESOLUTION NO. 56-2010
APPROVING MODIFICATIONS TO THE RETAIL RETENTION AND PROMOTION
INCENTIVES PROGRAM TO CONSOLIDATE FUND BALANCES IN TWO GRANT
CATEGORIES AND AUTHORIZING THE APPROPRIATION OF REMAINING
GRANT FUNDS ON A FIRST-COME, FIRST-SERVED BASIS
WHEREAS, the Town Council approved an update to the Danville Economic Development
Strategy, which included the development of a Shop Local First Marketing Program, on
April 1, 2008; and
WHEREAS, the Town of Danville, in collaboration with the Danville Area Chamber of
Commerce, met over a two-month time frame to develop the "Blueprint for Action" that
serves as a strategic roadmap to the promotion of Danville as the unique local and regional
shopping destination of choice; and
WHEREAS, the Danville Town Council adopted the "Blueprint for Action," a plan
developed in collaboration with the Danville Area Chamber of Commerce, to serve as a
strategic roadmap for the promotion of Danville as the unique local and regional shopping
destination of choice; and
WHEREAS, the current recession necessitates the consideration of an even greater level of
support for the retail sector--particularly in the historic downtown area-- in its promotion
and its function as a contiguous retail core; and
WHEREAS, the Danville Town Council approved a Retail Retention and Promotion
Incentives Program ("Retail Incentives Program") at its March 3,2009, regular meeting and
provided clarification regarding its implementation at its March 17,2009, meeting; and
WHEREAS, the Danville Town Council re-allocated $51,000 in funding within the Retail
Retention and Promotion Incentives Program ("Retail Incentives Program") at its July 21,
2009, regular meeting, to allow grant applications to be approved in areas where funding
had been depleted; and
WHEREAS, at that meeting, the Council allowed a single property owner of a building in
Downtown Business District (DBD) 1, 2 and 2A to apply for Category "B" - Retail
Expansion (Fa<;ade Improvements) grant funding for each retail tenant space within a
single building; and
WHEREAS, to date, the Town of Danville has since received and approved a total of 68
grant applications from 59 businesses and 9 business organizations! property management
companies that represent an award of approximately $337,122.47 in grant funding; and
WHEREAS, of the total $337,122.47 in grant funding awarded to date, $153,500 was
allocated from the Retail Retention (Marketing and Promotions) category and $183,622.47
was allocated from the Retail Expansion (Fa<;ade Improvements) category, leaving an
approximate combined fund balance of approximately $55,377.53; and
WHEREAS, the Town Council considered and authorized Town staff to introduce the
program modifications to better reflect market demand; now, therefore, be it
RESOLVED, that the Danville Town Council hereby consolidates fund balances in two
grant categories, Retail Retention and Promotion Incentives Program, and re-allocates
$55,377.53 from the combined Retail Retention and Promotion Incentives Program and
unused funds from previously approved grants to be allocated for remaining grants in the
Fa<;ade Improvement or Marketing and Promotion categories on a first-come, first served
basis until funds are depleted.
APPROVED by the Danville Town Council at a regular meeting on May 18, 2010, by the
following vote:
AYES:
NOES:
ABSTAINED:
ABSENT:
Doyle, Stepper, Andersen, Arnerich, Storer
None
None
None
~w%s
MAYOR
..
APPROVED AS TO FORM:
~13~
CITY A'ITORNEY J
ATTEST:
PAGE 2 OF RESOLUTION NO. 56-2010