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Council approves EDC infrastructure grant up to $70,000 for site at former KOGT location
Summary
Council approved a resolution authorizing an Orange Economic Development Corporation infrastructure grant agreement with Autry Weir Financial Services, LLC, not to exceed $70,000. Staff said the estimated capital investment is about $475,000 and the incentive is a reimbursement upon completion and certificate of occupancy.
Council approved a resolution to authorize an Orange Economic Development Corporation (EDC) infrastructure grant agreement with Autry Weir Financial Services, LLC, for up to $70,000 to support site improvements at the former KOGT location. Staff described the grant as a reimbursement incentive tied to project completion and inspection and said the estimated capital investment for the project is in the $475,000 range.
The grant application will move forward to final execution following the required readings. A council member moved the item, it was seconded, and the chair announced the motion passed.
