HomeMy WebLinkAbout9/2/2025 Item 6j, Hermann and Fiedler - Staff Agenda CorrespondenceCity of San Luis Obispo, Council Memorandum
City of San Luis Obispo
Council Agenda Correspondence
DATE: September 2, 2025
TO: Mayor and Council
FROM: Greg Hermann, Deputy City Manager
Prepared By: Laura Fiedler, Economic Development & Tourism Manager
VIA: Whitney McDonald, City Manager
SUBJECT: ITEM 6j - GRANT AGREEMENT FOR THE RENOVATION OF THE CAL
POLY CIE
Staff received the following question regarding the proposed grant agreement. The
question is below with staff’s response shown in italics:
1) In the Fiscal Impact section of the report, there is a reference to $246K of
funding also from the Economic Development Assigned Fund Balance. Can
you outline the purposes of that funding and the remaining balance?
At the start of the FY2025-26, the Economic Development Assigned Fund Balance
had a balance of $608,000. In the 2025-27 Financial Plan, the Economic
Development & Tourism program had several Significant Operating Budget Changes
(SOBCs) approved to receive $246,000 each year from the Economic Development
Assigned Fund Balance for childcare expansion, implementation of the Economic
Development Strategic Plan, and “support local” programs, as detailed in the table
below.
After expending $246,000 for each year of the two-year financial plan, the remaining
amount in the Economic Development Assigned Fund Balance would be $116,000,
which is proposed to be used for the CIE renovation grant.
ITEM 6j - GRANT AGREEMENT FOR THE RENOVATION OF THE CAL POLY CIE Page 2
ID Description Fund FY 2025-26 FY2026-27 One-time/
Ongoing
2 Funding for CAPSLO to support
new and expanded private childcare
options
General
Fund
$25,000 $25,000 One-Time
Funding to support childcare grant program administered by CAPSLO, to provide grants of up to
$5,000 for family childcare home business owners and up to $10,000 for prospective childcare
centers for those looking to start-up or expand.
3 Funding for Economic Development
Strategic Plan Implementation
General
Fund
$66,000 $66,000 One-Time
Planned expenditures for the FY2025-26 include $30,000 to explore a potential conference facility
at the current courthouse building downtown and $20,000 to support the promotion of business
areas beyond the downtown. Planned expenditures for FY2026-27 include $50,000 to support
work on disaster resilience for businesses. An additional $16,000 in each year would support data
collection and analysis on economic, wage, and employment trends to inform programming.
4 Funding to support SLO Restaurant
Month and Buy Local Bonus
program, and advertising in support
of local businesses
General
Fund
$155,000 $155,000 One-Time
Planned expenditures for each fiscal year include $20,000 for SLO Restaurant Month, $110,000
for the Buy Local Bonus program during the holidays, and $25,000 in advertising expenses to
promote these programs and carry through messaging to the community abo ut supporting local
businesses and restaurants in other times of the year.