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<br />Chairperson Steffen stated that a corporately owned business would most likely have more than <br />30 employees and would therefore not qualify. <br /> <br />Economic Development Manager Sullivan referenced the application period and noted that most <br />cities are using a period of ten days. He explained that once the application is made public, there <br />would be a window of time in which applicants would apply. He suggested using a ten- or 14-day <br />window, noting that the intent is to get the funds out quickly. He stated that he would hope to <br />develop an online application. <br /> <br />Chairperson Steffen stated that he would suggest using a 14-day application window. <br /> <br />Economic Development Manager Sullivan stated that staff recommends not using a scoring system <br />and rather do a random selection of the businesses that applied and are eligible. He stated that the <br />general question would be if the business was impacted by COVID. He stated that they would <br />review revenue from a period of 2019 compared to the same period in 2020. He noted that deeper <br />review would be done after the 20 businesses are selected randomly. <br /> <br />Deputy City Administrator Gladhill stated that underwriting and revenue checks will be done to <br />ensure that the CARES Act requirements are met prior to distribution of funds for those businesses <br />awarded. He confirmed that a more impacted business may not be selected because of a lottery <br />program. He noted that a scoring system would take longer to distribute funds because of the <br />additional work that would be necessary to score the applications. <br /> <br />Chairperson Steffen asked when the revenue would be reviewed to ensure that the business was <br />impacted by COVID. <br /> <br />Economic Development Manager Sullivan explained that the City could use a third-party vendor <br />that would collect and review the information and complete the underwriting in order to ensure <br />that the CARES Act requirements are met. <br /> <br />Member Heineman stated that there are other ways businesses are impacted outside of revenue, <br />such as increased costs for materials, additional cleaning expenses, and expenses related to <br />implementation of social distancing. He stated that it is possible for a business to be impacted <br />outside of revenue. <br /> <br />Deputy City Administrator Gladhill confirmed that direct COVID expenses would be a method of <br />showing a business was impacted. <br /> <br />Economic Development Manager Sullivan stated that the application could go into additional <br />detail related to COVID impacts. <br /> <br />Deputy City Administrator Gladhill suggested that the remaining criteria be reviewed together <br />rather than step by step in order to be more efficient with time. <br /> <br />Member Hardin left the meeting. <br /> <br />Economic Development Authority/ July 16, 2020 <br />Page 8 of 11 <br /> <br />