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Albany staff propose citywide economic development grant program; council favors placeholder in budget
Summary
Economic development staff presented preliminary research April 7 on designing a citywide business grant program and recommended stakeholder outreach and a budget placeholder rather than immediate roll‑out.
Economic Development Manager Sophie Adams asked the City Council April 7 whether staff should pursue development of a citywide economic development grant program and presented preliminary research from other jurisdictions.
Research and options
Adams said staff surveyed 10 jurisdictions and reviewed about 20 programs. The consultants and staff found a wide variety of program designs: average available funding per cycle was roughly $300,000; individual awards ranged from $2,500 for small-scale event or awning grants up to several hundred thousand dollars for infrastructure or…
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