Mar. 16—SUPERIOR — The city’s System Commission was left with a $20,362 surplus in its small small business grant method past year, offering commissioners an possibility Wednesday, March 15, to reconsider how funding is awarded.
Funded at $200,000 every year due to the fact its inception in 2019, the system has awarded 45 grants for a complete of $572,478 to assistance almost $3 million in tasks, claimed Stephanie Becken, preparing assistant.
“This calendar year we have a little little bit of a surplus, so we have an possibility to glimpse at and make any adjustments to how the allocation system works,” Becken claimed.
The grants have been awarded on a quarterly foundation above the last yr prior to that they had been awarded on a first-occur, first-served basis until finally the revenue ran out. After the dollars ran out about fifty percent-way through the calendar year in 2021, the commission altered the program to quarterly awards.
A few quarters in calendar calendar year 2022 had less grants than the $50,000 accessible in every, but the next quarter grants awarded in June had much more eligible jobs than obtainable funding. The discrepancy prompted the commission to cut down some grant awards and roll in excess of unspent funds from the past quarter to go over most of the requests. In 2022’s 2nd quarter, the fee awarded $73,548 in smaller enterprise grants as a discretionary subject.
Becken mentioned the metropolis could have funded all the requests in complete last yr with a tiny little bit remaining above if the grant requests hadn’t all arrive in during the 2nd quarter.
Commissioners were divided on how to shell out the surplus. Four members ended up in support of a proposal by Commissioner Brent Fennessey to allocate the surplus money for extra support for historic renovations. Five members favored rolling around the surplus so more funding would be available to all little small business entrepreneurs when grant requests exceed the out there funding in any quarter.
A movement to reallocate the money for historic renovation initiatives unsuccessful.
“I will not want to reduce our little small business entrepreneurs limited,” said Commissioner Garner Moffat.
As a supporter of historic preservation, Moffat mentioned he thinks preservation really should be dealt with independently from the tiny small business grant system.
“Any funds remaining above should keep in the fund prior to we put it anyplace else,” Commissioner Dennis Dalbec said. “That’s what we made this method for.”
The 2023 grant system was adopted without any variations.
The commission did adopt a new software for the small business enterprise grant method that included a dilemma about whether or not the task is in a historical making or community.
Becken claimed the purpose of the dilemma is to identify possibly historic houses to encourage discussions with the city’s historic preservation committee, a panel of gurus in historic preservation. The remedy to that issue would have no bearing on eligibility for the grant plan, she claimed.