Council approves revisions to Sydney Small Business Advancement Program, doubles annual cap

The City of Sydney council voted to revise the Sydney Small Business Advancement Program, increasing the program’s annual cap from $50,000 to $100,000 and updating eligibility and repayment terms. Interim City Manager Josh Hanson presented the proposed revisions on behalf of the Economic Development Citizens Advisory Committee, which approved edits at public meetings in August and October 2025. Hanson said the program is funded through LB840 (local option sales‑tax) funds and that proposed changes include adding application criteria and clarifying how startup grants must show community benefit and coordination with other funding. For the existing-business forgivable loan program, the revisions specify that an applicant business must be at least two years old and must create at least one full-time position or retain two positions; a 2% interest-bearing loan would apply if a business fails to meet job commitments in the contract. Hanson told the council the Grow Nebraska grant (created under state legislative action in recent years) has been repealed and defunded at the state level, increasing the importance of local tools to support startups and expansions. He also provided historical figures that from 2022 to 2025, 26 applicants from Sydney applied for the Grow Nebraska program and 15 received awards ranging from $12,000 to $25,000. The council approved the recommended revisions by motion; Hanson said final award decisions will remain at the advisory committee’s discretion and that submission does not guarantee funding.