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Subject: Communication from the Director of City Development requesting to discuss additional funding and recommended changes to the City’s White Box program. (Res. No. 0243-17)
Recommendation of the Finance & Personnel Committee on 7/10/2017: To approve the following White Box program policies; To increase $150,000 in White Box funding from the Intergovernmental Revenue Fund for the 2017 Fiscal Year for a total of $250,000; combine the line item for façade grants and white box grants into one funding line item that could be allocated for either facades grant or white Box grant applications on a first-come/first-served basis (thus increasing the total funding for development incentives to $400,000 for FY 2017); Create a “sunset” on the White Box Program for the end of FY 2019 to incentivize vacant property-owners to take more immediate action to rehabilitate and lease vacant spaces; and allowing a property owner of a building with more than one distinct, vacant retail spaces to obtain more than one “White Box” grant.
Fiscal Note: The proposed White Box program policy changes would increase the FY 2017 Funding for the White Box program from $100,000 to $250,000. The combination of White Box line items and budgeted façade grant line items (budgeted $150,000 in FY 2017) to a total of $400,000 available for either White Box or façade grants. During FY 2017, there has been $91,545 awarded in White Box incentives and $50,000 awarded in façade grants. These policy changes would result in a total of $258,455 available for either White Box or façade grants for the rest of fiscal year 2017.