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Oswego EDC seeks clearer rules for downtown incentive grants, signals support for limited parking-lot funding
Summary
Oswego Economic Development Commission discussed clarifying which property improvements qualify for its downtown incentive program, reviewed program history and budgets, and indicated a consensus to allow parking-lot improvements with limits while treating roofs as maintenance ineligible for full funding.
The Oswego Economic Development Commission on Thursday reviewed its downtown economic development incentive program and asked staff to draft clearer eligibility rules for the village board’s consideration.
Commissioners and staff traced the program’s history — created in 2014 as a façade improvement program and broadened in 2018 — and discussed which property work should be considered permanent, market-enhancing investments and which should remain the responsibility of property owners as maintenance.
“The two big purposes of the program is to 1, enhance the value of downtown real estate, which in turn positively impacts the TIF district…and then number 2…improve the overall marketability of our spaces,” Commission member Carrie Hansen said, describing the program’s intended outcomes.
Why it matters: The commission’s guidance will shape how roughly $77,000 currently available in the fund is spent this calendar year and inform how the village board uses an additional $100,000 it allocated earlier in the…
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