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Invest Hagerstown program helps 58 homebuyers in FY25; city clears subrecipient agreements for three Main Street startup grants
Summary
City staff reported Invest Hagerstown assisted 58 homeowners with $435,000 in grants this fiscal year and told the council it will authorize subrecipient agreements for three state-funded Project Restore/Main Street startup grants to bring new businesses downtown.
City staff updated the mayor and council on April 15 about two economic-development programs: Invest Hagerstown and a state-funded Main Street startup grant program tied to Project Restore.
Amanda Gregg reported that Invest Hagerstown assisted 58 homebuyers this fiscal year with about $435,000 in grant awards; 46 of those buyers were first-time homebuyers and 40 buyers moved into Hagerstown from outside the city. Gregg said the program's typical annual activity is closer to 20 to 22 households, funded from property-tax-supported dollars in the Invest Hagerstown budget.
"This program is very popular, has done very well," Gregg said, noting the program's typical budget of about $165,000 is much smaller than the FY25 activity because additional funding and repayments enabled a larger set of awards this cycle.
Separately, Chris (economic development staff) told the council the city received $300,000 in state Project Restore funds and that staff will move forward with subrecipient agreements for three downtown startup projects: Painting With a Purpose (artist studio), Motherland Kitchen (Caribbean/Cameroonian vegan-focused restaurant), and Heggersound Vintage LLC (curated vintage retail and games). The staff memo said the state funding is ARPA-derived and the state imposes eligibility limits; the city must ensure each recipient and business type meet both state and local zoning requirements.
Why it matters
Staff said Invest Hagerstown supports homeownership and neighborhood stability and the Main Street grants are designed to fill vacant storefronts and attract local entrepreneurs into downtown commercial spaces. The council granted authority for staff to enter subrecipient agreements for the three named businesses so they can receive the state funding and proceed with interior buildouts.
Next steps
Staff said the homeownership program is currently suspended for new applications while existing FY25 funds have been allocated; staff will report on future funding needs if the council seeks to expand the program. For the Main Street grants, city staff said they will finalize the required subrecipient documents and proceed with award documentation and close monitoring of eligibility and allowable costs.
