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Council approves $2 million DIA-backed Downtown grant for Julia’s Balcony project amid funding questions
Summary
The council approved the Downtown Investment Authority-backed grant for the ‘Julia’s Balcony’ downtown housing and retail project after DIA said it had identified $2 million from a prior downtown economic development fund rather than from general-fund reserves; vote was 16–1.
The City Council voted 16–1 to approve a Downtown Investment Authority (DIA) resolution supporting public funding for a downtown mixed-use project known in committee as “Julia’s Balcony.” The DIA and the project team presented the appropriation request and emphasized that $2 million of the support will be drawn from a Downtown Economic Development Fund balance tied to a prior, defaulted project rather than from the city’s general reserves.
In Finance Committee discussion and at the full council meeting,…
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