HomeMy WebLinkAbout04. CDC Chamber of Commerce
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DATE:
April 12, 2011
TO:
Chairperson and Members of the Community Development Commission
FROM:
Office of the Executive Director
By: Brian Saeki, Director of Community Development
SUBJECT: TO PROVIDE FINANCIALASSISTANCE TO THE DOWNEY CHAMBER
OF COMMERCE IN THE AMOUNT OF $3,500 TO PROMOTE THE
WELFARE AND GROWTH OF THE CITY
RECOMMENDATION
That the Community Development Commission approve financial assistancein the
amount of $3,500 to the Downey Chamber of Commerce.
BACKGROUND
For several years, the Community Development Commission (Commission) has entered
into an agreement with the Downey Chamber of Commerce (Chamber) to provide
financial support for programs designed to promote industrial and commercial
development, stimulation of local buying, and community public information. On August
10, 2010, the Commission approved $24,500 to the Chamber for these activities as
described by the agreement dated July 1, 2010.
In the effort to streamline costs, staff conducted a mid-year review of the agreement and
discovered that the Chamber budget for the Street Faire was set at $4,000 to fund the
cost of City services. Staff determined that the operation and support for the Downey
Street Faire from city staff including Police, Public Works, and Administration reflected a
true cost of $7,500.
The City received a letter from the Chamber stating their budget shortfall and are
requesting financial assistance from the Commission to help fund the additional costs.
In order to assist the Chamber in meeting their actual costs, it is recommended that the
Commission provide an additional $3,500 to the Chamber so they are able address all
financial costs related to the Street Faire.
FISCAL IMPACT
The financial assistance of $3,500 will be funded by redevelopment dollars and are
available in this year’s budget.
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