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Lancaster EDA forms ad hoc committee to revise grant criteria and explore financing tools
Summary
The EDA appointed an ad hoc committee (three-member rotation) to update grant criteria, align EDA activity with the county 2035 plan, and explore options such as revolving loan funds and incentives to attract larger bond-issued projects.
The Lancaster County Economic Development Authority voted to form an ad hoc committee to review and update its grant request criteria and to study broader options for supporting local businesses, including possible revolving loan funds and incentive packages.
Nut graf: The committee — structured as three EDA members meeting at a time and coordinated with members of the county's community/business advisory group (CBRAC) — will examine alignment with Lancaster County's 2035 economic-development objectives and consider options beyond the EDA's existing microgrant program.
Board staff reported the EDA issued roughly $30,000 in awards in 2024 and noted prior years' totals (2021: $34,000; 2022: $21,500; 2023: $44,500). County finance staff described the EDA's capacity to issue up to $10 million in bonds per calendar year and noted potential future county bond activity for non-school capital projects. Staff suggested exploring ways to raise EDA revenues by increasing utilization of the EDA's bonding authority and by pursuing loan or incentive programs to better support local growth.
In discussion, members suggested an ad hoc group of three EDA members (with rotating participation so different members can engage without constituting a public meeting) would work with staff and CBRAC members to align grant criteria with the county's strategy, research microloan or revolving loan feasibility, and identify incentives used by other localities (such as permit-fee waivers or matched microloan programs). The motion to appoint an ad hoc committee passed by voice vote; the minutes list Rory (Roy) Carter, Tom Richardson and Taryn Bryce Rowland among participants, with Lisa McLaughlin and others slated to rotate in to keep meetings to three EDA members at a time.
Ending: The board directed staff to convene the ad hoc committee promptly, to coordinate with CBRAC, and to return recommendations to the full board for consideration and potential policy changes later in 2025.
