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EDC to proceed with third cycle of Thrive Business Grant Program; staff to expand outreach and clarify eligibility
Summary
Staff reported that the Thrive Business Grant Program has a $300,000 allocation, with $76,521.21 reimbursed in cycle 1 and $25,775.05 approved in cycle 2; the board agreed to pursue a third cycle starting in April, with June deadlines and staff-led outreach and clarified guidance to reduce operational-cost requests.
Staff member reviewed the Thrive Business Grant Program’s finances and performance and recommended running a third application cycle with updated outreach and clearer application guidance.
The staff member said the program was initially funded at $300,000 and reported the cycle results: "In cycle 1, what was reimbursed is $76,521.21. And then cycle 2, what is approved is the $25,775.05," leaving a remaining balance of "almost $200,000" for future cycles. The staff member also said the council set a sunset date for the program in fiscal year 2028.
Why it matters: the program provides reimbursement support aimed at aesthetic and substantive business improvements rather than routine operational expenses, and board members said they want clearer guidance to prevent ineligible operational costs from being submitted.
Board members and staff reviewed participation rates and outreach. Staff recounted that cycle 1 drew 10 applicants and approved 7 projects (with one application later disqualified for missing a performance agreement), while cycle 2 had 6 applicants and 2 approvals. One committee member said she had visited businesses door-to-door during earlier outreach; another board member cautioned about repeatedly funding the same businesses and asked for turnover data from cycle to cycle.
Staff proposed a timeline and outreach plan: start the application process in April, set deadlines in June and plan approvals in June. She said staff will revamp the program’s infographic and the website to clarify expectations and will prepare a calendar for targeted outreach to the six commercial areas, including one near the golf-course medical building. "I will create kind of a calendar of times when we can go out and do some outreach for the commercial properties. I'll revamp the infographic as well as the website to include more information," the staff member said.
Board members generally supported moving forward. One committee member said the program is valuable when it helps businesses make visible, lasting improvements; another urged care to avoid awarding funds for routine operational expenses.
Next steps: the board agreed to proceed with a third cycle and asked staff to coordinate outreach, finalize application materials and return to the board with the calendar and revised materials before applications open.
