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Extra funding allows for more projects to be funded
The Urban Renewal Advisory Commission held a special session Monday afternoon to recommend funding for almost all of the project proposals brought to them earlier this month.
With $200,000 more in funding on the table, URAC members had an easier time than they did at their June 10 meeting in allocating funding for the projects. The Urban Renewal Agency moved $116,000 into the line item for projects on June 12 and is likely to move more to reach $275,000 for discretionary projects.
The URAC recommended that the Urban Renewal Agency fund 11 projects out of the 15 that originally requested funding. Two projects were removed from the list because they are likely to receive funding from the facade grant program. Liberty Theatre had two projects on the original list. Those were combined for Monday’s meeting.
The first five projects on the URAC’s list met the most criteria for the group. Those projects are recommended to receive eligible funding at 100 percent. Remaining projects are recommended to receive close to 87 percent of eligible funding, with the exception of Les Schwab Tire Center and the Liberty Theatre.
URAC members agreed to recommend that Liberty Theatre receive significantly less than was requested since it is a nonprofit with alternative funding sources and because it has received $75,000 in Urban Renewal funding and is scheduled to get that much more this year. Les Schwab representatives said at the URAC’s June 10 meeting that they would move forward with the project regardless of whether they got these funds, so the URAC felt comfortable with offering them less than what was requested.