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EDC approves business improvement grant guidelines with two-year review window
Summary
The board approved Business Improvement Grant Guidelines that include a two-year expiration clause and downtown historic-overlay style standards; staff said the program would begin Oct. 1 with $25,000 initially set aside.
The Montgomery Economic Development Corporation voted to approve its Business Improvement Grant Guidelines after staff incorporated board suggestions and added a required two-year review. Kimberly, who presented the draft, told the board she had “added a 2 year expiration date for the grant guidelines” and that the design guidance was pulled from the city’s existing historic-overlay standards.
Kimberly said the program is slated to begin October 1 to align with the new fiscal year and run alongside planned street/stream improvements. She explained the guidelines specify amounts for different grant types and that the board initially set $25,000 in total to fund the program, subject to future revision by the board. The board motioned, seconded and approved the guidelines by voice vote so staff may begin implementation.
Members expressed enthusiasm about downtown interest: the Chair noted that “downtown people are very excited” and said multiple property owners have already called about participation. Staff may return with adjustments after the first round of applications and as interest dictates.
