The Economic Development Commission meeting held on May 1, 2025, in Fairfield, Connecticut, focused on updates regarding the community development block grant program and its implications for local businesses.

During the meeting, officials discussed the ongoing update to the consolidated plan for the program, which traditionally allocates funds for small business grants. These grants, aimed at income-qualified entrepreneurs, provide matching funds of up to $5,000 to assist with costs related to starting or expanding businesses in Fairfield. The commission is currently reviewing applications and plans to hold a public hearing on May 7 to gather community input before seeking approval from town boards in June.

For the upcoming year, the commission intends to allocate $20,000 for the micro enterprise program, similar to last year's funding. Officials noted that this amount serves as a placeholder, with the possibility of reallocating additional funds if more applications are received than expected. They emphasized that the funding is already secured, despite uncertainties surrounding potential changes at the federal level, particularly concerning the Department of Housing and Urban Development (HUD).

While there are concerns about possible staff reductions and consolidations within HUD, officials expressed optimism that the community development block grant program would continue, albeit with potentially reduced funding. The current year's allocation stands at approximately $480,000, which may decrease slightly in the following year.

The meeting underscored the importance of these grants in supporting local economic development and the ongoing efforts to adapt to changing federal funding landscapes. The commission remains committed to assisting Fairfield's small businesses as they navigate these challenges.