Budget Amendment ID: FY2018-S3-591

ECO 591

Lowell Development & Financial Corporation 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 that will match program funds to startup 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 the Lowell Development & Financial Corporation shall award funds to companies that 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”