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Committee advances draft revisions to density-district priority loan program, discusses expanding eligibility and loan terms
Summary
The IURA committee advanced a draft revising the density-district priority business loan program to emphasize categories over specific business lists, discussed expanding the eligible area to include Southworks and higher per-loan caps (up to $250,000), and asked staff to circulate the draft to stakeholders including the DIA.
The IURA Economic Development Committee voted April 14 to advance a draft revision of the density-district priority business loan program for stakeholder review after staff presented changes that remove a long list of specific business types and instead focus on categories. Nels, who presented the draft, said the changes are intended to give the agency flexibility to identify projects that provide greater community benefit and to incorporate retail-study recommendations for arts and entertainment and destination food and beverage businesses.
Committee members discussed whether the program must strictly follow…
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