Budget Amendment ID: FY2017-S4-85-R1

Redraft LOC 85

Lowell Startup Spaces Matching Grant Program

Ms. Donoghue moved that the proposed new text be amended in section 2, in item 7007-0800, by inserting at the end thereof the following:- “; provided further, that not less than $200,000 shall be expended for a matching grant program to be administered by the Lowell Development & Financial Corporation (“LDFC”) that will match program funds to start-up companies that have left an incubator or accelerator within the previous 12 months and seek to lease or rent office or laboratory space within the city of Lowell; provided further, that LDFC shall award funds to companies who have secured private matching funds from landlords or other sources to assist in rent or lease payments”; and in said item, by striking out the figure “$1,186,222” and inserting in place thereof the following figure:- “$1,386,222”.