Explanation
Background: This legislation authorizes the amendment to Ordinance No. 2661-2023, passed by City Council on October 16, 2023, to change the amount and funding source for the grant agreement (now a not-for-profit service contract) and to allow for the reimbursement of expenses incurred prior to the execution of a purchase order.
The Downtown Ground Floor Growth Initiative (Program) (formally called the Downtown Commercial Marketplace Program) is a small business program that seeks to achieve multiple goals through one comprehensive program. The Program includes:
· Providing downtown storefront space for small, local businesses who are oriented towards walk in customers (such as retail or restaurant businesses).
· Providing a master lease holder to: 1) sublease to small, local businesses in a way that promotes their growth and gives them a safe place to land, and 2) rent vacant properties downtown and guarantee stability for the property owners of those spaces.
· Providing technical assistance to the Program participants so that the businesses renting the downtown storefronts can grow and succeed.
This Program is designed to decrease vacancy downtown; promote small, local businesses; and promote the amenities of downtown as a neighborhood for Columbus residents living and working inside and outside of downtown. Ground Floor Growth, LLC, whose sole member is the Columbus Downtown Development Corporation (CDDC), will administer the master lease component of the program. The City does not have the human resources to administer the program through existing staffing.
This legislation seeks to amend Ordinance No. 2661-2023. In addition to changing from a grant agreement to a not for profit services contract to better reflect the work to be done, the changes include:
· Replacing capital funds with operating funds;
· Increasing the aggregate amount of funding;
· Allowing for the reimbursement of expenses incurred before the execution of the purchase orde...
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