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Thriving Commercial Corridors <br /> Mr. Andrews discussed how Lakewood Alive helps to keep the commercial corridor thriving by <br /> supporting three merchant associations,providing one-on-one business support, and by helping <br /> create a sense of place. He discussed how the City, the Chamber and Lakewood Alive have <br /> worked together to keep business thriving during the pandemic. During this time Lakewood <br /> Alive has increased the frequency of merchant meetings, held special informational webinars, <br /> and helped connect businesses with various loans and grants. Mr. Andrews stated that some <br /> businesses were on the verge of closing and these financial supports made a critical difference. <br /> Funding, Operations, Challenges & Looking Ahead <br /> The Lakewood Alive team discussed the organization's funding streams and strategies. The <br /> changes to events in 2020 have led to a 30% decrease in revenue and uncertainties remain for <br /> 2021. <br /> Staff have been working remotely since March and are very productive from home. Retaining <br /> talented staff and preventing burn-out has been a challenge. <br /> The Lakewood Alive team briefly discussed its plans and priorities for 2021 including expansion <br /> of small business support and investing to retain talent. <br /> Approval of the Minutes of the November 16,2020 Finance Committee Meeting <br /> A motion was made and seconded to approve the minutes of the November 16, 2020 Finance <br /> Committee meeting. A roll call vote was taken as follows: <br /> Yeas: Bullock, Neff, Litten <br /> Nays: none <br /> Motion adopted. Minutes approved. <br /> Discussion: Councilmember Rader expressed support for the City's financial support of <br /> Lakewood Alive. He recommended that the City remain open to providing additional funds in <br /> 2021 if Lakewood Alive struggles to provide services. He remarked that he would not want to <br /> see residents lose the programs on which they depend. <br /> In response to a councilmember question, the Lakewood Alive team acknowledged that its <br /> breakdown of clients has been similar over the past two years. Lakewood Alive is not necessarily <br /> serving the same individuals each year but the referral sources are the same. Lakewood Alive <br /> was not able to provide a breakdown of clients based on homeowners verses renters. <br /> Councilmember Litten picked up on the references to low morale among staff in Lakewood <br /> Alive's presentation. Ms. Urbanek responded that 2020 was supposed to be the year where <br /> investments were made into staffing, however that was upended by the pandemic. The non-profit <br /> 2 <br />