23,583

Source: PDF p. 734 · raw: 734

Breadcrumb: 4 ced › Comm-EcDev-DPs › Package Details › 23,583

23,583 - Reallocate Economic Development and Lending Staff Service Area Community & Economic Development DCA Donnie Oliveira Bureau Name Prosper Portland Director Shea Flaherty Betin Funding Type Name Reduction Status: Recommended Package Desc Expense Recommended Total Reallocate $650,000 of Economic Development and Lending staff (~3+ FTE) to Prosper Portland's External Materials and Services ($650,000) Strategic Investment Fund (SIF) based on anticipated available funds. ($650,000) Service Impacts Revenue Recommended Total Reallocating lending staff to SIF will reduce overall capacity of operating funds and may impact General Fund Discretionary ($650,000) staffing in FY 2025-26 depending on other operating resources. This will make it more difficult to staff the implementation of the new TIF districts. ($650,000) If Prosper Portland falls short on SIF production goals, staffing levels will be impacted by this cut. Positions next year rely on a combination of residual TIF districts, initial interest earnings in SIF, conservative assumptions on the new TIF districts and General Fund. Changes in the General Fund cut, level of SIF income, and level of growth for the new TIF districts will impact what positions are funded. Equity Impacts Overall reduction in staffing levels and operational capacity will impact ability to provide loans, grants and technical assistance that would deliver on Advance Portland, the City's 5-year inclusive economic development strategy.

Parent: Package Details · PDF: p. 734