DEPARTMENT: Economic Development Department
DEPARTMENT HEAD: Alejandra Lopez
COUNCIL DISTRICTS IMPACTED: City Council District 2
SUBJECT:
An Ordinance approving the execution of a Chapter 380 Economic Development Funding Agreement between San Antonio for Growth on the Eastside (SAGE) and the City of San Antonio for an amount not to exceed $450,000.00 from the Inner City TIRZ for the SAGE Store Front Grant Program and to complete an Eastside Revitalization Corridor Study.
SUMMARY:
A Chapter 380 Economic Development Agreement between San Antonio for Growth on the Eastside (SAGE) and the City of San Antonio for an amount not to exceed $450,000.00 from the Inner City TIRZ for the SAGE Store Front Grant Program and to complete an Eastside Revitalization Corridor Study.
BACKGROUND INFORMATION:
San Antonio for Growth on the Eastside, referred to as SAGE, is a non-profit organization serving as an economic development resource for current business owners and potential businesses moving into the community. SAGE identifies the needs of the Eastside businesses and non-profit community and delivers assistance to those located within the commercial corridors. SAGE has represented the Eastside prior to 2008 when it was renamed from Community Economic Revitalization Agency, Inc. (CERA).
The City of San Antonio provides SAGE funding as part of the adopted budget to support operations, economic development activity and to supplement the Store Front Grant Program. In FY 2021, the City provided SAGE a total of $358,668.00 of which $258,668.00 is funded by the General Fund for operations and $100,000.00 is funded by Inner City Incentive Fund for the Store Front Grant Program.
To support SAGE's mission to foster investments that improve the quality of life for individuals, families, neighborhoods and businesses on San Antonio's Eastside, this proposed Council action includes additional support to the City's current Store Front...
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