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Council redirects $26,000 in economic development funds to Federal Way public market planning
Summary
The council approved a $26,000 grant to the Federal Way Public Market for business planning and marketing outreach, funded from an economic development business-startup allocation after lodging-tax committee raised eligibility concerns about using lodging-tax revenue for a project in planning stages.
The City Council on Wednesday approved a $26,000 grant to support the Federal Way Public Market’s business plan and marketing outreach, redirecting funds from an economic development business-enterprise startup allocation after committee members questioned whether lodging-tax dollars were appropriate for a market still in planning.
Meredith Neal, the city’s economic development director, explained that the Lodging Tax Advisory Committee and the city’s FedRack committee had reviewed the market’s earlier application for tourism enhancement funding. FedRack members expressed concerns about using lodging-tax money for a facility that is not yet open and asked staff to consider alternative economic development funds.
“We proposed a grant that would be funded from the funds set aside for economic development business enterprise startup,” Neal said, noting the city held $40,000 in that account from 2023 and that $26,000 would leave $14,000 available for other startup support.
Cindy Laws, a lobbyist and public affairs representative for the Federal Way Public Market project, described the market concept to council and referenced comparable markets elsewhere in Washington. She said the market would host a mix of full-time businesses, table vendors, and youth-oriented small-business training and would be sited near the Link light-rail station in downtown Federal Way.
Council members voted unanimously to approve the $26,000 grant from the economic development startup funds and authorized the mayor to execute the grant agreement. The funding is intended to support community and business outreach and marketing tied to the market’s business plan.
Discussion versus decision: Council discussion focused on eligibility of lodging-tax funds for a project in planning; the decision was to fund the market’s planning and outreach work from a different economic development account.
Quotation from the meeting • Meredith Neal (Economic development director): "We proposed a grant that would be funded from the funds set aside for economic development business enterprise startup."
