Racial Equity Impact Analysis (REIA)

The Racial Equity Impact Analysis helps the City consider racial equity outcomes when shaping policies, practices, programs and budgets.

Small Business Lending Re-appropriation - REIA

Section 1: Background

Does this impact one of the City's Goal Areas

Policy Goals

Operational Goals

Public Safety	No
Housing	No
Economic Development	Yes
Public Services	No
Environmental Justice	No
Built Environment & Transportation	No
Public Health	No
Arts & Culture	No

Workforce	No
Spending	Yes
Data	No
Community Engagement	No

Describe the impact on selected goal areas.

This action would shift funds back to the City's small business lending programs enabling financing transaction and the related business expansions to proceed.

Who participated in completing this analysis?

Miles Mercer

Section 2: Data

LIST THE SPECIFIC GEOGRAPHIES THAT WILL BE IMPACTED AND THE RACIAL DEMOGRAPHICS OF CONSTITUENTS IN THOSE AREAS:

The City's small business lending tools are availble city-wide, but in larger dollar amounts for designated Great Streets commercial areas of the city.

What does available data tell you about how constituents from BIPOC communities currently relate to the desired outcome as compared to white constituents?

A program review from December 2019 found that 40% of the borrower's in the City's 2% Loan program were BIPOC-owned businesses and that the amount of the City's loan was roughly equivalent for BIPOC and white borrowers.

What data is unavailable or missing? How can you obtain additional data?

Number of loan applications to private match lenders that are not referred to the City.

Section 3: Community Engagement

Using the International Association of Public Participation (IAP2) Public Participation Spectrum, which participation strategy(s) was used when engaging those who would be most impacted?

Inform	Yes
Consult	No
Involve	No
Collaborate	No
Empower	No

Describe the Engagement and what have you learned?

This is a shift of existing budget appropriation.

Section 4: Analysis

How does the outcome for this ordinance, amendment, or policy help the city achieve Racial Equity?

Restoring funding for the City's small business lending program allows the tools to assist business expansions by BIPOC-owned businesses.

Section 5: Evaluation

How will impacts be measured? What are the success indicators and process benchmarks?

Number of loans, dollar amounts of loans and private match loans, demographics of borrowers.

How will those who are impacted be informed of progress over time?

Reports to City Council

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