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Economic Development Retail Sales Tax Board M E M O R A N D U M TO:Economic Development Retail Sales Tax Board Members FROM:Jodie Lloyd, Manager of Economic Development DATE:March 9, 2017 SUBJECT:Economic Development Retail Sales Tax–FY 18 Budget –Staff Analysis CC:Andrea Riganti, Director of Community Development Staff has analyzedthe EDRST FY 18 applications. Evaluations were based on the EDRST Board’s criteria: Alignment with Comp Plan Ability to leverage additional financial resources Ability to be long-lasting and value added Ability to redevelop vacant properties Potential to act as catalyst for additional develop. Potential to provide employment opportunity Appropriate alignment of business fit in target area Each application was evaluated on a scale of 0 (little or no alignmentwith criteria)to 2 (strong alignment with the criteria). In summary, staff isrecommending a balanced programbudget of $565,000 with a recommendationto use $457,142 in reserves for the Olive Boulevard sidewalk project. In addition to the analysis and recommendation, staff has provided a comment/note about each application. Staff recognized the Board’s concern about duplication of programs including marketing and events. There are separatemarketing initiatives (Loop, Chamber, City, Midtown Farmers Market, etc.) and events. Staff recommended combining funds and the City will work to ensure efforts are not duplicative. A full analysis is provided in the accompanied spreadsheet. Below is a summary including comments.