Title:
Title
CARES Act Relief Fund for Creative Economy Recovery Program: Accept Additional Grant Funding for Arts, Tourism and Creative Economy
End
FileID
File ID: 2020-00916
Location
Location: Citywide
End
Recommendation:
Recommendation
Adopt a Resolution increasing the Creative Economy Recovery Program budget by $2,500,000 [MF1][MT2]from the CARES Act Program (G02610100) in the Federal Cares Act Fund (Fund 2704) to support the arts, tourism, and creative economy.
FileName
Contact: Mannylyn Timoteo, Administrative Analyst, (916) 808-3982; Jody Ulich, Director, (916) 808-5105, Convention and Cultural Services Department
Body
Presenter: None
Attachments:
1-Description/Analysis
2-Coronavirus Relief Fund Programs
3-Resolution
Description/Analysis
Issue Detail: On March 13, 2020, the City declared a local emergency in response to the spread of the COVID-19 pandemic. Several actions were taken by the City to provide immediate economic relief to city businesses and residents.
* On April 20, 2020, the City received $89.6 million in Coronavirus Relief Funds (CRF) from passage of the federal government's CARES Act.
* On May 26, 2020 Council committed $28 million in CRF to support immediate local economic relief services and programs for residents and businesses. Included in the $28 million was an allocation of $5 million for the Creative Economy Recovery Program
* On June 30,2020 Council approved an additional amount of $2.5 million making the total CRF fund allocated [MF3]to the Creative Economy Recovery Program $7.5 million.
The purpose of this report is to include a resolution consistent with the City policy of requiring a resolution for all budgetary adjustments.
Policy Considerations: The City has been impacted by a global pandemic. Establishing grant programs to help the creative community using CARES Act funding is consistent with City Council action relative to state and federal grant awards.
Economic Impacts: CARES Act funds will...
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