Commissioners with the Central Business Improvement District (CBID) on Thursday (Oct. 16) approved a plan to support Main Street Fort Smith[1] efforts that align with their goals of boosting business activity in downtown Fort Smith.
Main Street Fort Smith Executive Director Amanda Hagar first outlined the plan to share the costs of a downtown growth and grants specialist, which was the result of a CBID conversation in August about working with the Main Street program to build on momentum.
The CBID, a semi autonomous governing body, has in recent years become more active in efforts to enhance downtown Fort Smith and work with groups engaged in promoting and developing the downtown area.
The downtown growth and grants specialist would help both organizations in five key areas: business growth support, securing grants and other funding, manage projects, work with other downtown stakeholders, and track the impact of projects and programs. Main Street Fort Smith would manage and provide office space for the person.
Under the plan approved Thursday, the CBID will annually pay $26,328 and Main Street will pay $17,552 to support the employee. The agreement calls for an annual renewal with both parties, and the approval is also subject to a legal review of human resources language.
“It seems like a win-win,” CBID member Phil White said during Thursday’s discussion. “It’s good for us and it allows you (Main Street) to be more successful.”
Following are some of the benefits to both organizations Hagar listed in the proposal.
• The CBID gains the advantage of a staff member fully focused on its priorities, while benefiting from the oversight of Main Street Fort Smith.
• Both organizations can broaden grant-seeking opportunities, and accelerate projects that might otherwise be delayed or underfunded.
• The position will operate from Main Street Fort Smith’s existing office, using shared tools such as databases, software, and communications systems, reducing administrative overhead and eliminating the need for duplicative expenses.
“We have a lot of aligned goals,” Hagar said in an interview after the CBID meeting. “One of those is that we’re going to launch a small business incubator in downtown Fort Smith that is a very low cost, low risk to a small business owner to give them a chance to see if a brick-and-mortar works for them. This is a program Main Street Fort Smith has been thinking about for awhile, and with this agreement it gives us the ability to have more resources to make this happen.”
She said the incubator program “is not reinventing the wheel” because it has been tried, tested and adjusted by other Main Street programs nationwide.
Hagar said the employee also can help both organizations get detailed information about downtown property, businesses, business activity and other information “that can really be a resource to Realtors, to developers, and to property and business owners that may be coming in.”
Related
References
- ^ Main Street Fort Smith (www.mainstreetfs.org)