Agenda - Council - 05/26/2020 - Laserfiche WebLink

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13Issues $440 $6,600 $8,800 $11,000 $250 $3,750 $5,000 $6,250 6 Issues �$400 �$6,000 �$8,000 ,$10,000 I$224 $3,360 1$4,480 1$5,600 With the intent to better spotlight Ramsey Retailers and Restaurants, Staff also anticipates that this will be a larger addition to the Ramsey Resident (20 pages) and this will add an additional cost to the publication of $2,000. The EDA recommends ad reimbursement for the 1/8 page ad for up to 25 qualifying businesses. The estimated cost for this program has an approximate range of $7,000 to $10,000. This program is also another way for the City to give a good number of its business exposure to City residents in light of the cancellation of the 2020 Business Expo. The recommended funding source for this program is the EDA's Marketing and Promotions Account. The budgeted amount for this account is $30,000 for 2020. Staff would recommend supplementing this account, if necessary, with EDA Fund Balance due to this unforeseen expense. Waiver of Late Fees (Leases) To date most leases for City -Owned Properties are current. Payments have come in a little later but the City is receiving its revenue. The City has received feedback from a business impacted by COVID-19 and they appreciate the waiver of late fees if it is needed. In addition, the City entered into the a lease with Mille Lacs Motor Sports II (Power Lodge) on April30, 2020 for a forgivable lease in the amount of $420.00. This program has had no cost to this point and has been well received by businesses. Funding Source: The proposed funding sources for these programs are the EDA's Marketing and Promotions and Professional Services Accounts. The Marketing and Promotions line item is proposed to fund the Ramsey Resident Advertising Program (up to $10,000). The Professional Services line item is proposed to fund the Liquor License Renewal Waiver Program ($48,000). The proposed funding proposal will utilize the entire Professional Services 2020 budget line item. Staff is recommending that the EDA Cash balance be used to offset some of these costs and future Professional Services and Marketing Costs. Summary Initiative Cost Funding Source Available Budget Liquor License Renewal $48,0001 EDA Professional $43,000 Services Ramsey Resident Ad $10,0001Promotions EDA Marketing and $30,000 Reimbursement * Note - any budget deficit is recommended to be funded by the EDA Fund Balance. Recommendation: The Ramsey EDA recommends adoption of Resolution #20-XXX Finalizing Implementation of COVID-19 Assistance Plan Phase 1. Based on broad policy direction, Staff will finalize implementation administratively. Action: Motion to approve Resolution #20-098 Finalizing Implementation of COVID-19 Assistance Plan Phase 1 Attachments Resolution #20-098 Ramsey Resident Waiver Program Policy Liquor License Renewal Program Policy DRAFT EDA Minutes dated May 14, 2020