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HomeMy WebLinkAbout11/12/2020••• •••• •0000 000 Apple Valley Meeting Location: Municipal Center 7100 147th Street West Apple Valley, Minnesota 55124 November 12, 2020 ECONOMIC DEVELOPMENT AUTHORITY SPECIAL MEETING TENTATIVE AGENDA 7:00 PM 1. Call to Order 2. Approve Agenda 3. Approve Consent Agenda Items Consent Agenda Items are considered routine and will be enacted with a single motion, without discussion, unless a commissioner or citizen requests to have any item separately considered. It will then be moved to the regular agenda for consideration. A. Adopt Resolution Accepting CARES Act Funding and Implementing of CARES Act Grants 4. Regular Agenda Items 5. EDA Items and Communications (For items EDA wishes to discuss) 6. Staff Updates 7. Adjourn Regular meetings are broadcast, live, on Charter Communications Cable Channel 180 and on the City's website at www cityofapplevalley. org 000 0000 0*000 ITEM: 3.A. *Go Apple EDA MEETING DATE: November 12, 2020 Valley SECTION: Consent Agenda Description: Adopt Resolution Accepting CARES Act Funding and Implementing of CARES Act Grants Staff Contact: Department / Division: Bruce Nordquist, Community Development Director Community Development Department ACTION REQUESTED: Adopt Resolution accepting CARES Act funding and implementing CARES Act assistance grants SUMMARY: The Federal Government has passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. As part of this funding each City and County is receiving allocated funding to offset COVID-19 impacts; a portion of this funding may be allocated for businesses within the community as a Coronavirus Relief Fund (CRF). The City of Apple Valley received an allocation of approximately $4M in federal CARES Act Funding. One of the allowed uses of these funds is to provide assistance to businesses that have been negatively impacted by the COVID-19 Pandemic. The City allocated ten percent of the allocation, or $400,000, to assist up to 40 businesses at a maximum of $10,000 per grant. BACKGROUND: During September and October, staff has administered 40 grant applications; reviewing application details, determining qualifying COVID related expenditures, and working with the individual applicants to secure receipts and finalize agreements. As amounts were being finalized the week of the meeting, staff will provide that detail the evening of November 12, 2020. Two resolutions are attached for consideration. One supports grant assistance to individual businesses in Apple Valley. The other resolution supports the local business assistance and allows unexpended funds from the small business grant program to provide a grant to Fairview Health Services. BUDGET IMPACT: ATTACHMENTS: Resolution Resolution APPLE VALLEY ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 2020- A RESOLUTION ACCEPTING CARES ACT FUNDING AND IMPLEMENTING CARES ACT ASSISTANCE GRANTS WHEREAS, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020, providing the State of Minnesota $1.87 billion, of which 45 percent may be distributed to local jurisdictions via the states; and WHEREAS, the City of Apple Valley has received an allocation of $4,025,355.00 in CARES funds from the State of Minnesota that must meet the eligibility criteria established by the U.S. Department of the Treasury; and WHEREAS, the City of Apple Valley City Council has designated the Apple Valley Economic Development Authority (AVEDA) to administer and manage an AVEDA sponsored small business assistance grant program for businesses located in Apple Valley; and WHEREAS, the Apple Valley City Council designated $400,000.00 of the CARES Act funds to be used in the AVEDA sponsored small business assistance program, to be transferred to and used by the AVEDA. NOW THEREFORE, BE IT RESOLVED, that through and with the use of City staff, the AVEDA will develop and administer an AVEDA sponsored small assistance grant program for businesses in Apple Valley. NOW THEREFORE, BE IT FURTHER RESOLVED, that the AVEDA accepts the designated CARES Act funds. NOW THEREFORE BE IT FURTHER RESOLVED, that the Executive Director, is hereby authorized to use up to $400,000.00 of CARES Act funding for the grant programs as herein noted, subject to the conditions and requirements set forth in the CARES Act. ADOPTED this day of , 2020. Clint Hooppaw, President ATTEST: Tom Lawell, Executive Director APPLE VALLEY ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 2020- A RESOLUTION ACCEPTING CARES ACT FUNDING AND IMPLEMENTING CARES ACT ASSISTANCE GRANTS WHEREAS, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020, providing the State of Minnesota $1.87 billion, of which 45 percent may be distributed to local jurisdictions via the states; and WHEREAS, the City of Apple Valley has received an allocation of $4,025,355.00 in CARES funds from the State of Minnesota that must meet the eligibility criteria established by the U.S. Department of the Treasury; and WHEREAS, the City of Apple Valley City Council has designated the Apple Valley Economic Development Authority (AVEDA) to administer and manage an AVEDA sponsored small business assistance grant program for businesses located in Apple Valley; and WHEREAS, the Apple Valley City Council designated $400,000.00 of the CARES Act funds to be used in the AVEDA sponsored small business assistance grant program, to be transferred to and used by the AVEDA. WHEREAS, the Apple Valley City Council authorized the AVEDA to use any unexpended funds from the small business assistance grant program to provide a grant to Fairview Health Services, subject to the conditions and requirements set forth in the CARES Act NOW THEREFORE, BE IT RESOLVED, that through and with the use of City staff, the AVEDA will develop and administer an AVEDA sponsored small assistance grant program for businesses in Apple Valley. NOW THEREFORE, BE IT FURTHER RESOLVED, that the AVEDA accepts the designated CARES Act funds. NOW THEREFORE BE IT FURTHER RESOLVED, that the Executive Director, is hereby authorized to use up to $400,000.00 of CARES Act funding for the grant programs as herein noted, subject to the conditions and requirements set forth in the CARES Act. ADOPTED this day of , 2020. Clint Hooppaw, President ATTEST: Tom Lawell, Executive Director