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Committee accepts minor CIP change for life sciences centers; fuller innovation plan set for March
Summary
The Economic Development Committee approved a technical CIP amendment reducing state aid by $1 million for life sciences and technology center upgrades and scheduled a fuller strategy briefing on March 6 to decide operating and capital investments for incubator support.
The committee accepted a staff recommendation to amend the Capital Improvements Program for the county’s Life Sciences and Technology Centers to reflect a $1,000,000 reduction in expected state aid.
The change is technical: last year’s CIP reflected $4,000,000 in capital funding for innovation centers and an expected $1,000,000 in state aid that county staff now say will not be realized. Staff recommended reducing both revenues and corresponding expenditures by $1,000,000; the committee accepted the recommendation without objection and scheduled broader policy discussion on March 6.
Gene Smith, manager of the Montgomery County Business Center, described how the…
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