Skip to code content (skip section selection)
(1) The Main Street Program will administer the program under the direction of the Main Street Director. This various duties required for this administration may be done through action of the entire Main Street board or either existing or newly created committees of the Main Street Program.
(2) To make the DEIP active, the Main Street Program must enter an agreement with the City of Pikeville agreeing to the procedures and guidelines set forth in this chapter.
(B) Financial resources available to the DEIP.
(1) The City Commission may, from time to time as it deems appropriate, allocate funds to the DEIP to be used to provide financial assistance to eligible business concerns through the various incentives and grants listed below. These funds shall, at all times, be discretionary city dollars with any remaining funds being transferred to the city upon the City Commission’s or City Manager’s request.
(2) The Main Street Program will establish a separate account for all financial transactions executed under the DEIP.
(3) In general, all grants and incentives resulting in payments made to recipients from the DEIP account will be reimbursements. Grantees must present receipts, invoices, or other proof of payment of eligible expenses prior to reimbursement. The Main Street Program will be responsible for maintaining these records for three (3) years. Reimbursements will be made within sixty (60) days of the presentation of appropriate documentation.
(4) If the Main Street Program wishes to pay in advance for some portion of a grant other than those that reimburse for utility fees or other city services, a request may be made to the City Manager for authorization to proceed. A record of this approval must be maintained for three (3) years.
(Ord. O-2019-07, passed 3-11-19)