Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Roanoke EDA outlines new grants, loan programs and an equipment incentive that moved fast
Summary
The Roanoke Economic Development Authority told City Council it used conduit-bond revenue and other EDA funds to back grants, a disaster-recovery pool and a fast-moving equipment incentive; staff said one new program’s $200,000 allocation was fully committed in six days and the EDA increased funding to $250,000 for the current year.
Roanoke’s Economic Development Authority summarized a year of activity to City Council on Wednesday, highlighting conduit bonds, performance agreements and several new grant and loan programs that EDA staff said are already producing downtown and neighborhood investment.
The presentation, delivered by Alisa Cundiff, the city’s economic development specialist and EDA staff liaison, described how conduit (private activity) bonds and administrative fees help fund the EDA’s discretionary grants and incentives, and outlined several recently created programs and awards.
Cundiff told council the EDA used conduit-bond transactions as a revenue source and that those revenues support the EDA’s incentives and grants. She described a new Business Equipment Incentive Program that launched with $200,000 and was fully committed in six days; the EDA increased the program to $250,000 and added separate funding categories for manufacturing/industrial and commercial/retail applicants to expand eligibility for small restaurants and retail businesses. “The money was fully committed in…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
