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Legislation #: 100630 Introduction Date: 7/29/2010
Type: Resolution Effective Date: 8/29/2010
Sponsor: COUNCILMEMBERS FORD, SHARP, SKAGGS AND CIRCO
Title: Stating the intent of the Mayor and City Council to appropriate $200,000.00 from the Unappropriated Fund Balance of the General Fund to incent a Challenge Grant Program at the Economic Development Corporation to support enhanced business retention efforts.

Legislation History
DateMinutesDescription
7/29/2010 Filed by the Clerk's office
7/29/2010 Referred to Planning and Zoning Committee
8/18/2010 Immediate Adoption
8/19/2010 Adopted

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100630.pdf Authenticated 55K AUTHENTICATED
Challenge Grant Factsheet 100630.xls Fact Sheet 98K Fact Sheet
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=100630 Video Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=100630

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RESOLUTION NO. 100630

 

Stating the intent of the Mayor and City Council to appropriate $200,000.00 from the Unappropriated Fund Balance of the General Fund to incent a Challenge Grant Program at the Economic Development Corporation to support enhanced business retention efforts.

 

WHEREAS, the Mayor and City Council support enhanced Business Retention activities at the Economic Development Corporation (EDC); and

 

WHEREAS, the Board of the EDC has identified enhancing Business Retention activities as a top priority for the organization; and

 

WHEREAS, the Board met on July 16th and voted to establish a Challenge Grant Program to raise funds for enhanced Business Retention efforts; and

 

WHEREAS, the target of the Program is to raise $400,000.00 in net new private funding to match a $200,000.00 contribution from the City of Kansas City; and

 

WHEREAS, the Program would be staffed, operated, and independently accounted for by employees of the EDC; and

 

WHEREAS, the City Council desires that the City Manager work with the staff of the EDC to develop the details of the Program; NOW, THEREFORE,

 

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Mayor and City Council state their intent to appropriate $200,000.00 from the Unappropriated Fund Balance of the General Fund upon a Challenge Grant Program at the EDC raising $400,000.00 to provide enhanced Business Retention activities.

 

Section 2. That the City Manager is directed to work with the staff of the EDC to develop an enhanced Business Retention Program.

 

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