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Council, consultants explore business‑retention fund and developer contributions
Summary
Council members and consultants discussed mechanisms to preserve small, existing businesses — including a developer‑funded business retention program, a town budget line item, or a business improvement district — as potential tradeoffs if code concessions are granted.
Several councillors urged that any changes enabling more residential development include measures to preserve existing commercial businesses. Consultants proposed three funding approaches: (1) developer contributions tied to concessions, (2) a town budget line item, and (3) a business improvement district or similar self‑taxing mechanism for commercial parcels.
"There might be some payout for that," Dana Little said when outlining developer‑funding possibilities, and she noted examples where project contributions have funded local benefits. Consultants emphasized that criteria and an application process would be needed so aid goes to established local businesses rather than being misused.
Council members suggested options such as time‑limited covenants, targeted grants for building repairs, or a Business Improvement District to sustain commercial storefronts. No funding decision was made; the council asked consultants to outline feasible funding mechanisms and how they would be administered and to show examples in draft materials.
