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Spur grant round drew $1.6M in requests for roughly $200K in funds, city staff say
Summary
Economic development staff reported about $1.6 million in Spur business grant requests from roughly 100 applications, while approximately $200,000 is available; recommendations will go to the mayor and council for final review.
Economic development staff told the committee that the recent Spur business grant round produced approximately $1,600,000 in funding requests from around 100 business applicants, while the available fund totaled about $200,000. Director Nelson said an evaluation committee of EDAC members and EDD staff spent several hours reviewing applications to prepare recommendations.
"We had $1,600,000 of request. About a 100 applications came in from businesses. Unfortunately, we only had a pot of about $200,000," Director Nelson said, noting staff would present a recommendation list to the mayor and council for final approval. Nelson said staff will engage applicants not selected and help them identify other funding opportunities. The director also announced a new sell-side business coordinator, Bernadette Gomez, and listed upcoming business and community events.
