Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Council backs pilot payroll support to attract curated tenants to downtown 'hub'
Summary
Council authorized staff to develop a forgivable-loan-style pilot to subsidize partial payroll and tenant improvements for targeted businesses at the Hub commercial center to accelerate downtown revitalization; staff proposed a $1.0to $1.5 million fund and said final agreements will return to council for approval.
The City Council authorized staff on Oct. 1 to develop a job-creation pilot program that would use forgivable loans or payroll subsidies and tenant-improvement incentives to attract curated tenants to the Hub, a city-prioritized commercial center in downtown Corona.
Economic development staff presented a program modeled on similar incentives used by other Southern California cities, saying the tool would help recruit unique restaurants and entertainment operators and speed a transformation the city has sought for years.
Why it matters: Downtown stakeholders told the city that ordinary market forces were not…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
