Board adopts tier‑4 predevelopment grants up to $250,000, with $5 million set aside

The board adopted a new tier‑4 predevelopment grant policy designed to finance the gap between planning and construction, approving awards up to $250,000 with a required 20% local match.

Staff described eligible uses as design, engineering, permitting, environmental review and related activities to make sites shovel‑ready. "Under that tier 4 redevelopment funding, funding would be up to $250,000 with a match of 20% of the total project cost, so a minimum of $62,500," staff said during the presentation. Board members said the tier fills a gap between earlier readiness grants and full construction awards.

The board also voted to set aside $5,000,000 as a reserve for exceptions or pilot awards tied to the new policy. In debate members stressed guardrails: applicants must document other funding explored and meet job‑creation or private‑investment tests before an executive committee could approve an exception. Chair called the motion, it was seconded and carried by voice vote.

The policy will return to staff for implementation details and a program guide; board members asked staff to include clear documentation requirements for any higher‑amount exception requests so decisions can be explained to applicants.