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Council adopts economic development strategy; directs staff to return with detailed $2.5 million budget
Summary
The Vancouver City Council on April 21 adopted a five-year economic development strategy and directed staff to return with a detailed budget for an estimated $2.5 million in early-stage program funding.
The Vancouver City Council on April 21 adopted a five-year economic development strategy and directed staff to return at the next available meeting with a detailed budget showing how an estimated $2.5 million in early-stage program funding would be invested.
The plan, intended to catalyze neighborhood-level business investments, passed after Council member Fox moved to approve the strategy and asked staff to provide specifics on the proposed five-year $2.5 million resource allocation. Council discussion focused on what those funds would pay for and how much would be city-funded versus leveraged from partners or external grants.
Council member Fox said she supported the plan’s goals but wanted clarity on the financing. A staff member…
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