Council approves CIF funds to aid redevelopment of 208 State Street by High Tide Capital

An ordinance authorizing $375,000 from CTDECD CIF Round 7 to be passed to High Tide Capital for redevelopment of 208 State Street won council approval.

Council members discussed grant administration and whether the city should begin charging administrative fees for pass-through grants, especially as the city accumulates more externally funded projects. Deputy Director Reinhardt described current practice: the city evaluates fit and legal eligibility, helps prepare applications, and serves as fiscal agent but does not always assess administrative fees; staff indicated they will review which grants allow indirect or administrative cost recovery and propose changes for larger projects.

Councilors also asked about staff time required to manage grants. Reinhardt said smaller CIF grants require only a few hours to a week of staff time for preparation and routine quarterly reporting; larger grants may require more oversight and could justify third-party oversight or indirect cost allocations.

The ordinance (0518-26-05) was adopted by roll call vote. Staff said the funds will be used to pass through soft-cost support for the private redevelopment project and that procurement and RFP steps remain for implementation.