EDA outlines waterfront, Link District and small-business programs and requests steady city funding

Malcolm Mitchell, chair of the Portsmouth Economic Development Authority, told a joint work session of the City Council and EDA that the authority wants a regular allocation of city funds to continue property acquisition, demolition and development support as it advances waterfront, Link District and entertainment‑district projects.

Mitchell said the EDA’s programs include three grant tracks for small businesses, a new working‑capital loan program and a pop‑up retail program called Bloom that showcases locally made products. “We are pleased to launch the first small business working capital loan program, a low interest loan to businesses up to $50,000,” Mitchell said. He also described business development grants (up to $2,000 for startups), business‑acceleration grants and real‑property investment grants used for improvements.

The EDA presented conceptual plans for a mixed‑use waterfront development that Mitchell described as a possible Phase 1 build with roughly 300 multifamily units, a 180‑room boutique hotel, about 60,000 square feet of retail, roughly 40,000 square feet of office and on‑site parking. He said consultants AECOM had been retained to support the solicitation process and…