EDAB-PCT-20260609

Economic Development Advisory Board Regular Meeting · 2026-06-09 · agenda_packet

[401 S. Park Avenue (City Hall Commission Chambers)] The Economic Development Advisory Board (EDAB) meeting on June 9, 2026, will discuss two incentive programs: the Catalyst Development Program (CDP) for large-scale redevelopment projects in the West Fairbanks corridor and the Commercial Septic to Sewer Conversion Program for properties within the CRA. The CDP aims to catalyze transformational projects, encourage high-quality mixed-use development, and address market gaps, with eligibility requiring a minimum $2.5 million investment, 1 acre of development, and specific industry classifications. The Septic to Sewer program aims to improve water quality by replacing septic systems and offers up to $20,000 in grant funding for eligible properties in the Fairbanks Corridor. Both programs were approved by the CRA advisory board on May 28, 2026, and will be forwarded to the CRA Agency and City Commission in July. [401 S. Park Avenue (City Hall Commission Chambers)] The Economic Development Advisory Board (EDAB) meeting on April 14, 2026, discussed and unanimously approved guidance language for W. Fairbanks, focusing incentives on professional, scientific, tech services, retail, and finance sectors, while excluding hospitals but potentially including medical facilities. The board also discussed incentive structures for large and small-scale developments, including a new septic-to-sewer conversion grant program for smaller projects, primarily focusing on the W. Fairbanks area. The meeting also included approval of previous minutes and staff updates.