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Fairview committee reviews urban renewal grant revisions, board limits awards to $50,000
Summary
At a recent Fairview Economic Development Advisory Committee meeting, staff walked members through proposed revisions to the City of Fairview Urban Renewal Agency tenant-improvement and development matching grant programs, including a board direction to cap individual project grants at $50,000, clarified eligibility and new application and reimbursement procedures.
Fairview — Staff presented draft revisions to the City of Fairview Urban Renewal Agency’s tenant-improvement and development matching grant programs and solicited input from the Economic Development Advisory Committee on eligibility, allowable costs and application requirements.
The committee heard that the urban renewal board provided direction to reduce the maximum grant from $100,000 to $50,000 per project because current funds are limited. "The board provided direction to reduce the maximum grant down from a 100,000 to $50,000 per project," a staff member said. Staff said approximately $300,000 had been allocated to the program in prior periods and that a residual balance remains from unfinished projects, though the exact remaining amount was described as uncertain and tied to this fiscal year’s budget.
The draft separates two program…
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