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City Council Meeting Minutes June 16, 2020 <br />Business Improvement Grant (BIG): <br />❑50% matching grant up to $20,000 for real property improvements <br />❑50% matching grant up to $5,000 for signage <br />• 19 projects funded since 2016 <br />• Total investment of approximately $375,000 <br />• BIG disbursements of approximately $150,000 <br />• Potential enhancements: <br />❑ increase marketing of program <br />❑ monitor timeline for improvements <br />Key Functions of Downtown Development and Reuse <br />• Work with existing property owners to facilitate redevelopment <br />• Assemble resources to assist commercial property owners and developers on <br />economic feasibility of projects: <br />❑New Markets Tax Credit (NMTC) <br />❑ Property Assessed Clean Energy (PACE) <br />❑ Historic Tax Credits <br />• Evaluate and develop economic development incentives for: <br />❑ residential (non -student housing) to increase density <br />❑ commercial office to pursue a professional workforce <br />Entrepreneurial & Small Business Development <br />Activity <br />• Texas State Small Business Development Center (SBDC) offers no -cost <br />business advising and educational workshops <br />• GSMP Events include an Innovation Quick Pitch competition <br />Splash Coworking Programming <br />• entrepreneurship boot camp - intro. to entrepreneurship, validation of <br />business concept, business finance, and marketing <br />• professional development workshops - time management, work/life balance, <br />reskilling, career advancement opportunities <br />Key Functions <br />City liaison and information clearinghouse for new startups <br />Collaborate with partners to develop: <br />• mentoring services <br />• educational workshops <br />• technical assistance programs <br />• recognition events <br />Work to enhance the entrepreneurship ecosystem in San Marcos <br />Pursue opportunities to fund future programs for entrepreneurship <br />Workforce Development <br />City of San Marcos Page 4 <br />