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RESOLUTION R-2021-86: A RESOLUTION OF THE COUNCIL OF THE CITY OF NORMAN, OKLAHOMA, APPROPRIATING CARES ACT REIMBURSEMENT FUNDING IN THE AMOUNT OF $30,000 RECEIVED FROM THE STATE OF OKLAHOMA FROM THE GENERAL FUND MISCELLANEOUS GRANT REIMBURSEMENTS ACCOUNT TO BE USED FOR SMALL BUSINESS RELIEF GRANTS.
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DISCUSSION: City Council in its meeting of October 29, 2020, appropriated $6,525,000 of those funds which were distributed as follows:
• $4,800,000 for Construction Supplement for Senior Wellness Center and Purchase of Permanent Community Service and Homeless Service Facility
• $575,000 for Visit Norman, Inc. to restore lost Room Tax Revenues
• $500,000 for the Norman Arts Council to restore lost Room Tax Revenues
• $465,000 to be allocated to the City’s General Fund
• $135,000 to be allocated to the City’s Net Revenue Stabilization Fund
• $50,000 to be allocated to Municipal COVID Service Providers such as Norman Regional Health System
In City Council’s Special Session of December 1, 2020, appropriated $1,000,000 to be allocated for small business relief grants.
The $1,000,000 appropriated would fund the 100 most heavily impacted businesses in Norman. The scoring results show there were 103 applications that scored 73 or more points, which was the break that presented itself. 103 applications would cost $1,030,000. Staff recommends an additional $30,000 be appropriated from the General Fund, Miscellaneous Grant Reimbursements (account 109-331346) to Misc-CARES Act Business Aid (account 10110111-44720) to close out, what could naturally be seen as, Phase One of this program. Should Council identify future funding, staff can move down the scoring graph to award any new funding to the existing applicant pool.
RECOMMENDATION: It is recommended that the Resolution be adopted and the CARES Act funds be appropriated as stated above.