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| Regular Council Meeting - Virtual Meeting |
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| Council consideration: |
| An Ordinance amending the 2021-2022 Biennial Budget to include ARPA/SLFRF funding for economic development business support programs. |
| ANALYSIS: |
| The proposed economic development programs are based on feedback provided by SeaTac small businesses during the 2021 Business Synergy Program Outreach survey and guidance from the City Council. A full overview of the programs is provided in the attachments. Programs will be developed beginning in 2022 and operate for approximately three years. |
| BUDGET SIGNIFICANCE: |
| Amend the 2021-2022 adopted budget to increase the ARPA Grant Fund 113 by $3,542,700 to provide funding for the multi-year programs starting in 2022 and anticipated to be operational through December 31, 2025. |
| COMMITTEE REVIEW(S) AND RECOMMENDATION(S): |
| At the May 10 Council Study Session, the City Council provided direction to the City Manager to proceed with preparing the budget amendment documents and developing the proposed programs. At the June 23 PED Committee meeting, the Committee discussed and unanimously recommended the proposed programs. On August 11, the A&F Committee also unanimously recommended approval of the proposed budget amendment and directed staff to place the budget amendment on the consent agenda of the Regular Council Meeting for full Council approval. |
| ALTERNATIVE(S): |
1. Approve lesser amounts of funding and indicate which areas to reduce the program's scope from original program proposals.
2. Approve funding for some programs and not others.
3. Do not approve funding allocation. |
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