Council extends downtown grant program to support Promenade leasing, requires executed leases

The City Council voted on July 21 to extend the Downtown Urban Core Improvement Grant program for another year to Sept. 2027 and to require executed leases for applicants as a condition of grant funding. Staff said the program's original funds will roll over and are intended to help fill commercial space in the Promenade.

City staff and the project developer described slow early leasing due to engineering and build-out requirements. William Angrick, principal of PC Town Center Development, said leasing is now advancing and recommended waiting until a critical mass of tenants before a formal celebration; he described hard-hat tours underway and stressed the project's long-term value. "We are beginning hard hat tours for the residential component...the 1st Floor...about 56,000 square feet of commercial space," Angrick said.

Council moved to extend the grant date, require an executed lease agreement as a condition, and table other definition and scope changes until a future meeting so members could review a redline of the proposed amendments. The motion passed unanimously. Leasing agent Cornelia Manfray and others emphasized that the additional build-out assistance helps smaller regional tenants commit to the Promenade, which staff said is a strategic economic development priority.