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Keene EDC reviews $50,000 draft improvement grant to help small businesses
Summary
The Keene EDC Type A board reviewed a draft program to award an initial $50,000 in matching grants to local businesses for storefront and site improvements, discussed caps and tracking measures, and agreed to return a revised final draft next month.
EDC staff presented a draft small-business improvement grant program that would begin with $50,000 in city funds to help local storefronts, lighting and minor site work, the Keene Economic Development Corporation (EDC) Type A board heard on March 27.
Mr. Sites, an EDC staffer, told the board the $50,000 was “to start a city grant program to support local businesses” and described the draft as a 50/50 matching program intended to keep storefronts neat and encourage investment. He said staff envisions online applications and a board review process so members would have final say over awards.
Board members pressed for details on a per-project cap and how to prevent one applicant from using the entire fund. “I don't think I'm a huge advocate of one person coming in and taking all 50,000 of it,” a board member said, and members floated a $10,000 example cap during discussion. The board discussed allowing both exterior physical improvements (signage, lighting, concrete pads) and, in limited cases, equipment purchases, with the caveat that the city’s interest be protected.
Several members emphasized simple, noninvasive outcome measures so the EDC could track return on investment without imposing heavy reporting burdens on small operators. Mr. Castellanos urged that outcome expectations be spelled out in grant applications and suggested regular check-ins so the city can measure any upticks in revenue or sales-tax proxies after improvements.
The board also debated whether grant funds should pay for advertising; the consensus was to prioritize physical improvements while leveraging the chamber of commerce and city communications (including a proposed EDC newsletter) for promotion rather than using grant dollars for ads.
On ownership and safeguards, members proposed that equipment bought in part with grant dollars should remain with the building or be repaid if removed. The board agreed that Letters of Agreement (LOAs) should be tailored to grant types and that some terms (for example, payback periods or equipment retention) will need case-by-case language.
Staff said it will add specific verbiage on equipment and LOAs, consider adding a per-project cap to the draft, and bring a revised final draft for board approval at the next meeting so the program may be launched and promoted. The board also discussed outreach ideas, including social media promotion and partnering with the chamber to connect with local businesses.
The discussion did not produce an award decision; instead, the board directed staff to revise the draft language and return with a final version for approval at the next meeting.
