SUBJECT: Consent Agenda
Title
A Resolution of the Board of Commissioners of the Town of Erie Urban Renewal Authority Approving the Award of a Revitalization Incentive Grant to the Chiropractic Center of Erie
Body
DEPARTMENT: Economic Development
PRESENTER: Ben Pratt, Economic Development Director
TIME ESTIMATE: N/A
FISCAL SUMMARY:
Cost as Recommended: $51,900
Balance Available: $100,000
Budget Line Item Number: 100-20-910-576000-000000
New Appropriation Required:
STAFF RECOMMENDATION:
Approve Resolution on the URA Revitalization Incentive Grant Agreement for Chiropractic Center of Erie.
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
On October 27th, 2020 the Board of Trustees approved the Revitalization Incentive Grant Program. In November 2020 the Economic Development Department began accepting applications with an enrollment window deadline of December 4th, 2020. We received eight applications. On December 10th, 2020 the Grant Review Committee comprised of representatives of the Downtown Erie Business Association, the Erie Chamber and the Erie Economic Development Council selected two applications (Chiropractic Center of Erie and ComVet), which they recommend for approval.
The Chiropractic Center of Erie applied to the business siting and expansion program for their project located at 698 Briggs Street (application attached). Their application indicates this reimbursement grant will help enable the applicant to add an additional 5 jobs and activate two additional levels of currently unused office space in Downtown Erie. This grant represents approximately ten percent of the total project costs ($519,000).
Staff recommends approving this reimbursement grant for the amount of $51,900 to Chiropractic Center of Erie for the construction that is to be done at 698 Briggs St. This will use approximately half of the $100,000 the Board allocated for incentive grants in the 2021 budget.
Fiscal Impact: $51,900
Board Priority(s) Addressed:(Add an "x...
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