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Talent urban renewal board commits $500,000 toward Gateway Business Incubator
Summary
The Talent Urban Renewal Agency voted to authorize the executive director to commit $500,000 of agency funds to a proposed Gateway Business Incubator, with several board members urging more community engagement and a feasibility study to guide later spending.
The Talent Urban Renewal Agency on Monday authorized its executive director to commit $500,000 from agency funds to a proposed Gateway Business Incubator and to prepare a supplemental budget to make the money available.
Staff presented the request at the start of the meeting, saying the agency could move up to $1,250,000 of a regional peer award (about $4,700,000 total) to the incubator and that $500,000 represented the "upper limit" of remaining URA funds staff considered available. "I'm requesting that the [agency] board commit $500,000 from the [agency] budget," staff said. The staff presentation said a commercial-viability study by Leland is posted on the city website and that a feasibility study led by the Talent Business Alliance and co-funded by the Port Family Foundation should be substantively complete by year end.
Board members asked how…
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