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EDA approves two real‑property grants as program nears full allocation
Summary
The EDA approved two Real Property Investment Grant awards — Pure Wellness (1308 Airline Blvd) and Amber Ashlee & Company (503 County St) — that will exhaust the current $350,000 allocation unless additional budget amendments are made; vote passed 6–1 after debate about fairness and possible reallocation.
The Portsmouth Development Authority on Nov. 18 approved two Real Property Investment Grant applications that together will nearly exhaust the program’s current fiscal‑year allocation.
Staff reported the program had approved about $309,000 year‑to‑date with roughly $41,000 remaining of the $350,000 budget. The two applicants presented were Pure Wellness (Zenia Yoga Studio & Academy) at 1308 Airline Boulevard, seeking a 50% match on a $47,739 HVAC and minor roof repair project ($23,869.95 requested), and Amber Ashlee & Company at 503 County Street, requesting support for a $49,729.78 interior build‑out for which staff proposed a 34% award ($17,131.55) because of the limited remaining funds.
Commissioners debated whether to move money from other grant lines or fund balance to bring the 503 County Street project up to a full 50% match. One commissioner argued that reallocating a small amount to help a single approved applicant would be reasonable and could allow the project to move forward; other commissioners warned that reallocating funds now would be unfair to other applicants that were not funded once the program balance was exhausted. Staff noted any reallocation would require a formal budget amendment.
After discussion, the board moved and seconded approval of the applications as presented (staff‑recommended funding levels); the motion carried 6–1. Commissioners were reminded that the program closes to new applications until the next fiscal year if the allocation is exhausted.
Why it matters: The awards support small local businesses and building reinvestment, but also demonstrate how limited program funding forces trade‑offs among applicants. Staff identified options including internal realignment of grant lines or use of fund balance, both of which would require formal budgetary action.
Next steps: Staff will process reimbursements on a reimbursement basis once claim documentation is submitted and will return to the board if members want to pursue a formal budget amendment to increase the grant pool before the fiscal year closes.
