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City staff propose revamp of small‑business grants and subordinate loans to jump‑start downtown redevelopment
Summary
Economic development staff proposed broader, more flexible CDBG‑funded programs including larger façade/grant limits in priority areas, an expanded subordinate loan (BOOST) product for new construction and an area‑focused quarterly grant cycle; council asked staff to prepare policy and budget language for FY implementation.
City economic development staff outlined a package of changes on May 4 intended to make the city more aggressive and flexible in deploying Community Development Block Grant (CDBG) funds to spur commercial redevelopment.
Key elements: staff proposed raising individual grant caps for targeted…
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