pages: CityCouncil/2020-05-05.pdf, 23
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CityCouncil | 2020-05-05 | 23 | The Economic Development Manager responded staff will be checking business licenses and the Business Improvement Assessments (BIA) to ensure applicants paid last year; stated if eligible, participants will be entered into a lottery; applications will be reviewed to ensure the 20% loss of income qualification threshold has been met. Mayor Ezzy Ashcraft outlined a portion of the staff report; stated Council is directing staff to look into supporting the assistance of small businesses; however, the direction is not exclusive to small businesses; noted Council is also including renters. Councilmember Oddie noted there are 470 members of the Downtown Alameda Business Association (DABA); inquired the amount for the West Alameda Business Association (WABA). Mayor Ezzy Ashcraft requested clarification that the inquiry only includes qualifying members. Councilmember Oddie stated that he would like to understand whether the ratio is the same. The Economic Development Manager responded the ratio is not the same; stated there are 212 WABA members on the list. Mayor Ezzy Ashcraft noted WABA includes Target, Safeway and some of the Alameda Landing businesses that could not apply for the small business grant. The Community Development Director stated staff has received 10 applications from Alameda Landing. Councilmember Oddie inquired whether additional funding could be provided for the program; inquired the options available for consideration; noted should all applicants be awarded, the cost will be $1.485 million. The Economic Development Manager responded the City has allocated $502,500 and $97,500 from Alameda Point. The City Manager stated three approaches to funding the grant program could be: 1) requesting support through a foundation or contributions to leverage the funds, 2) reviewing current budgeted expenditures that could be reduced and reallocated, and 3) allowing spending from the reserves; noted a revolving loan program is a good option but has a time restriction; stated there are ways to expand the current $600,000 by allowing businesses to take less than the $7,500 maximum award. Councilmember Oddie stated that he recommends a loan program through the City to businesses; the City can loan money to the fund; should a non-profit move forward, the money can be repaid to the General Fund. Special Meeting Alameda City Council 2 April 21, 2020 | CityCouncil/2020-05-05.pdf |