HomeMy WebLinkAboutMemo - Mail Packet - 3/7/2023 - 05 - Memorandum From Michael Bussmann Re: Capital Project Funding For Businesses – February 23, 2023
Economic Health Office
222 LaPorte Avenue
PO Box 580
Fort Collins, CO 80522
970.416.2164
fcgov.com/business
Date: February 23, 2023
To: Mayor and City Council
Through: Kelly DiMartino, City Manager
Tyler Marr, Deputy City Manager
SeonAh Kendall, Economic Health Director
Shannon Hein, Economic Health Manager – Small Business
From: Michael Bussmann, Lead Economic Specialist
Re: Capital Project Assistance Funding for Businesses
PURPOSE
The purpose of this memo is to provide Fort Collins City Council with an update related to the
Economic Health Office’s grant program created to assist businesses impacted by City
construction.
BACKGROUND
Through Ordinance No. 063, 2022 American Rescue Plan Act (ARPA) Fund mid-cycle
appropriation, the Economic Health Office was funded to support a Capital Project Business
Liaison 1.0 full time equivalent (FTE) and programmatic funding to support businesses impacted
by construction project. EHO has offered a Capital Project Assistance Grant to businesses near
major City construction projects. This grant was intended to help businesses offset impacts
related to construction during their pandemic recovery.
PROGRAM SUMMARY
• The Capital Project Assistance Funding grant was offered in December 2022, to
businesses located in, or adjacent to, two recent City construction areas, Linden St. and
W. Mulberry by City Park.
• The grant was later opened to any business in Fort Collins able to identify significant
construction impacts in 2022.
• Funds were meant to help stabilize businesses and had no utilization conditions.
• Thirty-one businesses applied and were awarded $2,000 each, totaling $60,000.
o Twenty-three businesses on or near Linden St.
o Four businesses on or near W. Mulberry and City Park.
o Four business elsewhere in the city experiencing direct construction impacts.
DocuSign Envelope ID: 986E9401-1561-451F-B05A-2637C8A4E91A
• The majority of grant funds were deployed by January 31, 2023.
LEARNINGS AND NEXT STEPS
The Capital Project Assistance Funding program illustrates an opportunity for small financial
support to help local business minimize impacts from City construction. EHO is exploring a more
formal version of the construction impact grant for local businesses. Any future grant program
could include the following parameters:
1. Timing - application window opens near the start of construction, not the end.
2. Defined Locations - open only to businesses in defined project areas.
3. Utilization Requirements: criteria regarding the deployment of grant funds related to
the direct mitigation of the predictable impacts.
4. Diversified funding sources rather than only ARPA funds to better futureproof grant
programming.
The Capital Project Assistance Funding for Businesses worked as intended, was relatively simple
to execute, and should be considered a success. The funds were a compliment to other
engagement efforts and helped stabilize local businesses working towards economic recovery
during major City construction.
ATTACHMENT - Capital Projects Grant Recipients
DocuSign Envelope ID: 986E9401-1561-451F-B05A-2637C8A4E91A
Economic Health Office
222 LaPorte Avenue
PO Box 580
Fort Collins, CO 80522
970.416.2164
fcgov.com/business
CAPITAL PROJECTS GRANT RECIPIENTS
Food and Beverage Industry
Surfside 7
Pour Brothers
Roots and Leave Kava and Teas
Ciao Vino
Gelato and Amore’
The Forge Publick House
Equinox Brewing
Illegal Pete’s
Happy Lucky’s Teahouse
The Welsh Rabbit Bistro
The Fox Den
Stodgy Brewing
Retail Industry
Ten Thousand Villages
The Bandwagon
The Wright Life
Little Horse Vintage
Walnut Creek Foco
Akinz
The Welsh Rabbit Cheese Shop
City Park Liquor
Driver 8 Records
Hearne’s Footwear and Clothing
Professional Services Industry
Hydrate IV Bar
Jodi Smith, Engineer
Jari Tarpy, Engineer
Michael Shoemaker, Engineer
Small Mountain Tattoo
Conrad and Rouse
Locks and Mane
JVA inc
The Fugate Team
DocuSign Envelope ID: 986E9401-1561-451F-B05A-2637C8A4E91A