8-22 DWOA Budget Narrative.pdf

3 2. Economic Revitalization (ER) $3,000.00 Monies budgeted for ER will continue to provide for business retention and recruitment. The ER team will continue to take a more personal approach to meeting with our stakeholders. The team has identified key property owners and locations within the SID Corridor and will concentrate efforts on creating more retail ready store fronts and properties. The ER Team will continue to create an environment for recruiting and retaining business within the downtown corridor. 3. Professional Services & Insurance $5,000.00 The Downtown WO Alliance will distribute funds for Professional Services that include The Directors & Officers Insurance, Worker’s Compensation Insurance, Accounting Services for total budgeted amount of $5,000.00. D&O Insurance $ 1,500.00 Worker’s Compensation $ 500.00 Accounting $ 3,000.00 Total $ 5,000.00 4. Marketing & Promotions $77,250.00 We will continue to manage several promotional events and fundraisers that have become extremely popular over the years. These include but are not limited to West Orange Street Fair, Downtown Thursday events, and the annual Holiday Open House. The remaining monies in this category will support The Mayors 5K and other dedicated events with the goal of bringing people into the downtown corridor. Below please find a breakdown of these expenses. As face-to-face interaction has been limited we continue to utilize Facebook, Instagram & other technology resources to promote the downtown corridor. Tourism Grant Match $ 4,062.50 Marketing Contractor $ 32,400.00 Joseph Fagan $ 18,000.00 Mobile Application $ 3,000.00 Website Branding Design & M365 $ 3,000.00 Street Fair, Downtown Thursdays & others $ 16,787.50 Total Marketing & Promotions $ 77,250.00