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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 industrial investments. Common program goals among peer cities included event support, façade or beautification grants, business retention and expansion, and industrial capital investments.
Adams told council that Albany already participates in some programmatic support — for example, event grants administered through a COG partnership and access to EPA brownfield funds and Main Street historic preservation grants — and that any new city program should avoid duplicating existing resources.
Staffing, timing and budget considerations
Adams said the economic development team is small (two staff) and already has several projects in active development (transient lodging tax collection changes, multi‑unit property tax exemption program work, business visits and marketing projects). She recommended placing a placeholder in the upcoming budget to allow time to develop program design and stakeholder outreach without sacrificing current priorities.
Council direction
Councilors generally welcomed the idea of a program developed in concert with local stakeholders. Several councilors recommended focusing on locally owned businesses and existing firms, and one councilor suggested exploring county partnership opportunities to fund small-business expansion projects. Council gave staff direction to pursue program development as time allows and to include a budget placeholder, emphasizing stakeholder outreach and coordination with local resource providers.
Next steps
Staff said they will continue outreach with businesses, partners (including banks and the Small Business Development Center), and the Economic Development Advisory Committee to shape objectives and structure of any future grant program; staff will return with more detailed recommendations and cost estimates.
