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Council Questions EDC Budget Priorities, Urges Focus on Business Retention
Summary
The council reviewed the EDC budget; members questioned increasing membership and incentives while some urged reallocating funds toward business retention after local closures. EDC staff said membership was raised and hospitality funds would support Haven Business Council meetings.
EDC staff presented the Economic Development Council budget and described a reduced housing line item kept as a contingency in case lots do not sell, and increased hospitality and travel funds to support business outreach. "You will see a line item for housing. We have reduced that," the presenter told the council and said hospitality was increased to support periodic Haven Business Council meetings.
Several council members pressed the presenter on return on investment for business incentives, noting recent business closures. One member asked, "what our return on investment is because we've lost 2 businesses recently," and suggested reallocating funds toward retention instead of only incentives for new businesses. The presenter responded the membership figure was increased from 600 to 900 based on actual expenditures and said some retention activity happens through the director's direct contacts.
Council discussion included suggestions to split incentive funding into separate allotments for new-business incentives and retention programs. The EDC presenter agreed to review grant language and report back to the council with options for moving funds between incentives and retention programs.
