Half Moon Bay launched its financial restoration initiative Thursday to search out options to financial issues brought on by COVID-19, with plans to begin a Restoration Process Power to determine suggestions to the Metropolis Council.
The Coastside Restoration Initiative, or CRI, will work with San Mateo County, the Coastside Chamber of Commerce and native companies and nonprofits to deal with the short- and long-term financial wants of companies and residents. Over the past 12 months, the pandemic has precipitated misplaced income, job losses and a scarcity of readability of when issues will enhance, with the coastside coping with vital hits to the tourism, hospitality and restaurant industries. The CRI’s short-term targets are to begin a Restoration Process Power, decide unmet wants, coordinate monetary help and grant packages and leverage legislative alternatives, together with state and federal assets.
Lengthy-term targets embody strengthening financial growth capability, enhancing staff’ alternatives, creating industrial and group areas, and enhancing digital infrastructure to create a extra equitable, vibrant and resilient financial system.
The CRI had an open home Thursday to debate potential concepts and adjustments and get public suggestions on creating a greater coastside financial system. Small breakout groups of group members recognized concepts to assist financial restoration, like attracting extra high-tech corporations, coaching for the brand new financial system, defending open areas to draw tourism, coaching extra expert native staff, extra inexpensive housing and addressing excessive housing prices.
The upcoming Restoration Process Power will discover and determine particular suggestions that may then seem earlier than the Metropolis Council. It is going to embody round 12 to 18 individuals who will meet month-to-month and brainstorm, with enter from the group, about financial restoration concepts, mentioned Metropolis Supervisor Bob Nesbit. It is going to type in late February and meet recurrently by a minimum of June 2021, in response to a metropolis report. Purposes are at present being taken to affix, with hopes to get various folks from all kinds of sectors, together with agriculture, fishing, actual property, resort and hospitality, finance and knowledge expertise, small enterprise house owners, nonprofit leaders and academia. Its preliminary efforts within the first month will likely be on figuring out unmet enterprise and workforce wants. April to June will deal with creating implementation methods. As soon as suggestions are determined, it’ll put collectively a report in June to the Metropolis Council and different completely different companies on the very best methods to develop and implement insurance policies and packages, and the Metropolis Council can then determined what motion it needs to take to implement coverage or assist.
“It’s one among our essential initiatives for the subsequent 12 months,” Nesbit mentioned.
Senior Administration Analyst Karen Decker mentioned tourism, the restaurant trade and small enterprise make up a large a part of the coastside financial system and have been hit significantly onerous this 12 months, whereas agriculture and fishing industries make the world’s financial restoration a novel course of in comparison with different areas in San Mateo County. The town has already acquired a number of purposes for the Restoration Process Power, and there’s no onerous deadline for making use of to make sure they get as many purposes as doable earlier than it begins.
Deputy Metropolis Supervisor Matthew Chidester mentioned that primarily based on what the Process Power beneficial, the county may assist deal with infrastructure funding or programing suggestions. The town is the lead company and realized that it wasn’t sufficient to deal with Half Moon Bay and never deal with unincorporated elements of the county. San Mateo County Supervisor Don Horsley mentioned on the assembly the county was able to assist the Coastside Restoration Initiative in any approach doable to assist the world and group.
“I feel we will obtain nice issues,” Horsley mentioned.