The $110-million fund would help with job growth, business recovery and affordable housing because of cancellations, closures and job losses as a result of the COVID-19 pandemic. A staff report shows they plan to get the money by taking $10 million from the Economic Development Reserve, borrowing $20 million and selling surplus city-owned to get around $80 million. The fund is expected to last about a decade, until 2030. The money will be used for various projects to help residents and businesses get back on their feet. The city said its number one priority is affordable housing.
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