[Ord. No. 2020-927, 8-3-2020]
The recitals outlined above are incorporated herein as if appearing
herein verbatim.
[Ord. No. 2020-927, 8-3-2020]
The City of Lincoln Economic Development Grant Program is hereby
established to provide grants to existing commercial property owners
within the City of Lincoln. Guidelines for the grant(s) are listed
below:
(A) The property must exist within the City of Lincoln.
(B) Any project will be limited to structural issues only.
(C) In order to be eligible, the property owner submits the proper application
through the Economic Development Grant Commission.
(D) Once approved the property owner will receive the funding once the
project is complete, they have submitted the receipts, and said receipts
are approved by the Commission.
(E) Funding shall be limited to $7,500 per each property owner each fiscal
year.
(F) The grant program will have a funding cap of $60,000 within a given
fiscal year but will allow additional funding at the will of the Council
on a year-by-year basis, provided there is funding available within
the budget and appropriations.
[Amended Ord. No. 2021-959, 11-1-2021]
(G) A property owner cannot apply for an additional grant in the next
calendar year if their current project remains outstanding.
[Ord. No. 2020-927, 8-3-2020]
The Economic Development Grant Commission is hereby established
to assist the Council in the approval of projects. The guidelines
are listed below:
(A) The Commission will consist of no more than 11 members.
[Amended Ord. No. 2021-959, 11-1-2021]
(B) The Commission will meet as needed.
(C) The Commission will establish an application process for the businesses
looking to benefit from the grant program.
(D) The Commission is hereby given the authority to analyze and give
recommendations to the City Council for potential candidates of lien
abatement or forgiveness originating from commercial property owners
within the City of Lincoln.
[Amended Ord. No. 2021-959, 11-1-2021]
(E) The Commission will collect receipts of the project and monitor progress
of said projects.
[Ord. No. 2020-927, 8-3-2020]
The funding necessary for any and all grants shall come from
the Economic Development Fund.