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File #: 2538-2020    Version: 1
Type: Ordinance Status: Passed
File created: 11/4/2020 In control: Economic Development Committee
On agenda: 11/16/2020 Final action: 11/19/2020
Title: To authorize the Director of Development to execute a grant agreement with the North Market Development Authority for the purpose of providing support to the organization in its efforts to assist small business merchants in the North Market who have been negatively impacted by COVID-19; to authorize an expenditure up to $500,000.00 from the CARES Act Fund; to authorize the payment of expenses starting March 1, 2020; and to declare an emergency. ($500,000.00)
Attachments: 1. ORD2538-2020 2020-11-02 ED North Market CARES Act (002)
Explanation
This legislation authorizes the Director of the Department of Development to enter into a grant agreement with the North Market Development Authority in an amount up to $500,000.00 for the purpose of providing support to the organization in its efforts to assist small business merchants currently located in the North Market who have been negatively impacted by COVID-19; to provide new merchant start up assistance to bring emerging businesses to the North Market; and to increase the use of technology that will result in an increase in sales in a safer, less contact manner to reduce the risk of COVID-19.

The North Market is a destination that serves over one million guests each year and is consistently ranked as one of the top public markets in the country. The North Market proudly provides an authentic Columbus, Ohio experience that highlights the diversity and vibrancy of our community, both economically and culturally, by promoting and incubating “best in class” local, independent businesses. The Market’s heritage can be traced back to 1876. Across many transitions, economic ups and downs, and countless merchants, vendors, and visitors, North Market stands today, stronger than ever, as a symbol of our community’s resilience, cultural diversity, and success.

These services provided by the North Market Development Authority cannot be provided by existing city employees because these services are beyond the City’s current staffing capacity to provide.

Emergency legislation is requested in order to encumber funds in a timely manner so the North Market can expend the funds before the end of the year.

Contract Compliance: the vendor number and contractor compliance is pending.

Fiscal Impact: Funding is provided to the City of Columbus from the Coronavirus Aid, Relief and Economic Security (CARES) Act passed by Congress and signed into law March 27, 2020, and available in the Department of Development’s CARES Act budget (fund 2207, subfund 220703).

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