The Economic Development Incentive Committee of Sandusky, Ohio, convened on December 16, 2024, to discuss critical funding initiatives aimed at supporting local businesses. The meeting highlighted a significant loan program designed to assist businesses with forgivable loans over a five-year period, contingent on maintaining full-time employment levels.

Committee members engaged in a detailed discussion regarding the structure of the loan program. One member raised concerns about the administrative burden of tracking loans, especially given that there is no dollar limit on the loans. The committee ultimately approved the motion to move forward with the program, expressing hope for multiple applications in the future to utilize available funds effectively.

Another key topic addressed was the impact of ongoing road construction on local businesses. A committee member inquired about potential funding to support businesses experiencing revenue losses due to decreased traffic. However, it was clarified that the current program guidelines do not include provisions for business loss reserves. Despite this, the committee acknowledged ongoing conversations with business owners about potential improvements during the winter downtime.

The meeting concluded with a motion to adjourn, reflecting a commitment to continue exploring ways to bolster economic development in Sandusky. As the committee moves forward, the focus will remain on maximizing the impact of available funding while addressing the challenges faced by local businesses.