Subject:
Title
A Resolution of the Board of Commissioners of the Town of Erie Urban Renewal Authority Approving Amendments to the Revitalization Incentive Grant Program
Body
Department: Economic Development
Presenter(s): Leisha Talley, Sustainable Economic Development Fellow
Lucas Workman, Economic Development Manager
Time Estimate: 20 minutes
only required for non-consent items
Fiscal Summary: N/A
Staff Recommendation:
Recommendation
To review the information and approve the resolution.
End
Summary and Background of Subject Matter:
On November 12, 2013, the Town of Erie Urban Renewal Authority (TOEURA) Board of Commissioners established the Historic Old Town Erie Urban Renewal Plan Area to reduce, eliminate and prevent the spread of blight within the Plan Area by stimulating growth and making investments within its boundaries.
On June 23, 2020, TOEURA adopted the TOEURA Incentive Policy, utilizing tax increment financing ("TIF") funds generated in the Historic Old Town Erie Urban Renewal Plan Area to reduce blight in this area. In accordance with the Policy, TOEURA adopted the Revitalization Incentive Grant Program (RIGP) on October 27, 2020. The RIGP program is broken into two categories: (1) Historic Building Improvements; and (2) Business Siting & Expansion. Through this program, TOEURA provides grants designed to provide business siting and expansion assistance and help business and property owners who want to improve the external appearance of their commercial properties. To date, TOEURA has completed three rounds of RIGP grant funding, issuing $200,000 in assistance to 7 businesses in Old Town Erie.
At its meeting on March 22, 2022, TOEURA requested that the Economic Development Department consider an amendment to the RIGP, to incorporate and emphasize sustainability efforts when reviewing applications for consideration. Sustainability is a top priority for the Town, as identified in the 2022 Town of Erie Work Plan and Priorities Docu...
Click here for full text