With more than $1.7 million in federal funding paused, NewBo City Market has announced it will delay its planned expansion project, which was slated to complete construction by fall of 2025.
Recent pauses in federal funding allocations have stalled the market’s $1.3 million grant from the U.S. Commerce Department’s Economic Development Authority (EDA), and $458,767.90 from the U.S. Department of Agriculture (USDA).
According to a news release, NewBo City Market is actively working with federal officials to “resolve the situation.” However, due to the timing of the delay, the market’s board of directors has voted to delay the start of our construction to Sep. 1.
The nonprofit business incubator’s $6 million Next Level Local capital campaign officially launched in May of 2024. The expansion project being funded by the campaign would add a second floor to the interior of the market’s Rotary Hall. The plan includes balconies for outdoor patio space, a coworking lounge, a podcast studio, a mental health therapy clinic, a family sanctuary, a food production kitchen, a grocery store and an indoor stage for live events.
Market officials are hoping for community support to “help bridge the gap” in funding, according to the release. Those interested in donating can visit donorbox.org/next-level-local-capital-campaign.
“We deeply appreciate the patience and support of our community as we work through this delay,” said Julie Parisi, NewBo City Market executive director. “Our priority remains the completion of this project, and we are doing everything in our power to move forward while taking into account the health of the fledgling businesses in our incubator.”
