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EDA reviews FY26 draft budget; $250,000 small business loan program added and acceleration grant reduced
Summary
The EDA’s draft FY26 operating budget was discussed April 15. Staff said they reduced an 'acceleration' grant from $100,000 to $50,000 and added $250,000 for a proposed grant/loan program. Board members were asked to submit comments within a week; the small-business loan program will be discussed in closed session.
The EDA reviewed a draft FY26 operating budget at its April 15 meeting. Staff said the draft carries forward several large line items from FY25, which can make year‑to‑date comparisons misleading.
Budget presenters said the authority reduced an acceleration grant from $100,000 to $50,000 and added $250,000 for a proposed grant/loan program to support small businesses. Staff noted line items carried into FY26 include an anticipated $3,000,000 land acquisition (line 12) and $1,000,000 for real estate improvements, which are planned expenditures rather than current-year spending.
Board members asked for more detail on the $250,000 loan program; staff said the program will be discussed further in the scheduled closed meeting. Staff requested that commissioners submit any budget comments within about a week so staff can prepare the budget for presentation and final adoption before the fiscal year begins.
No budget adoption vote was taken; the draft will return for further review and a formal vote at a later meeting.
