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Officials Discuss Fund For Downtown Events

City organizations who plan downtown events will soon be able to apply for up to $75,000 to assist with programming costs.

On Tuesday, the Jamestown Local Development Corporation discussed the new fund for downtown programming, which was one of the 10 projects included in the city’s Downtown Revitalization Initiative. The programming fund was approved for $600,000, which will be administered by the state Homes and Community Renewal and Housing Trust Fund Corporation.

Vince DeJoy, city development director, said any venue, inside or outside, considered to be in downtown Jamestown can be used to apply for funds. He said organizations that want funding can submit an application, which will detail what they want to use the funds for and how much money they need. He added events that are considered recurring cannot apply for funding unless they are bringing in a new type of attraction that would change its character and the number of people who will attend the activity.

For example, DeJoy said an event like the downtown Jamestown Cruise-In could not apply for funds unless the organizers were doing something new like bring in a well-known musical act that enhances the event.

The maximum an event can receive is $75,000, with the largest grant being for $50,000 while the highest loan can be for $25,000, DeJoy said. He added that when the loan money is returned to city officials, which is supposed to take place within 30 days after an event, it will be placed in a special downtown events programming fund that they will control to be used again for future events.

DeJoy said the JLDC staff will review the applications for the new seven-member programming committee that will be formed. The new committee will consist of the mayor, two JLDC members and four non-JLDC members, which will all be selected by the mayor. He said the programming committee will make a recommendation to the JLDC board and if they approve the application then it will go to state officials for final approval.

Sam Teresi, Jamestown mayor, said the new fund is not meant to pay for an entire event, but help fill the funding gap necessary to hold the activity. He also said by helping to underwrite the cost of an event, the funding could help lower costs for consumers. He added that hopefully by bringing in higher-level entertainers, not only will this draw more locals downtown, but will also increase the number of visitors from other cities and states.

DeJoy said the first application due date for round one funding is June 1. He said they have until August 2020 to use the $600,000 in funding. In total, there will be six funding application rounds.

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