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Industrial Summit (in -person) November 13'h <br />Redevelopment Summit (in -person) November 19t' <br />... Will Campaign <br />Give back and support local businesses <br />that are struggling due to COVID-19 <br />Small Business Grants & Technical Assistance <br />Technical <br />ran s <br />Assistance <br />8:00 AM -12:00 PM <br />8:00 AM -12:00 PM <br />Business 4 Business <br />Greater MSP, the <br />Minnesota Consortium of <br />Community Developers <br />(MCCD) and Counties are <br />joining together with <br />other partners, like local <br />Chambers of Commerce <br />to develop a program <br />called Business 4 <br />Business. The program <br />will rely on donations from businesses who are successfully navigating the current crisis. <br />Then, small businesses, of less than 20 employees, a non -home based location and less <br />than $1 M in annual revenue will be allowed to apply for grants of $7,500 and/or technical <br />assistance, funded through that pool of money. <br />Connexus Energy recently announced a donation of $25,000 to the 13413 program. <br />FINANCE <br />Fund Balance and City Hall Renovation Financing Plan <br />The city council recently discussed the city hall renovation finance plan along with a <br />discussion on the city's fund balance policy. The fund balance policy was changed to be <br />more conservative and align with the city's historic practice of holding 40 — 50% of next <br />year's projected expenditures, including transfers out (such as to our street fund and capital <br />equipment fund). <br />COVID-19 Relief Programs <br />The city has now received our federal funds for COVID-19 relief of $304,902. The funds <br />come to cities, through the CARES Act, offsetting expenses related to the pandemic. City <br />staff will be evaluating our expected expenses to determine what our total expenses may be <br />and if there is available funds for such things as a business relief program or to assist the <br />school district with their unreimbursed needs. Possible expenses include: <br />• Hand sanitizer, other cleaning products <br />• Facemasks <br />• Temp Plexiglass at front desk <br />• Downtown Construction Contract Change Order for COVID shut -down <br />• Related Engineering bills <br />• Employee idle time <br />• Professional cleaning services <br />• Police (our share of CLPD costs) <br />• Fire (our share of CFD costs) <br />