The Raleigh Incubator on South Wilmington Street, idle for several years following an embezzlement scandal, may get new life. The Raleigh city council is expected to start accepting offers from companies that want to operate the facility on Aug. 7.

The Raleigh News and Observer reports that the former Raleigh Business and Technology Center (RB&TC) at 900 S. Wilmington has four tenants but no leadership since the RB&TC vacated it following a scandal in 2013. The chair of the center’s board was arrested as a result.

The city, which partly funded the center, yanked funding and evicted the RB&TC after the scandal.

The Observer reports that the council held a special work session last week to discuss how they want the center to function under new leadership. They said they want it to serve entrepreneurs in the southeast Raleigh area with priorities given to minorities, women, and startups with plans to address community challenges.

The city still has to determine funding levels for the new operation. The city currently spends approximately $121,000 for overhead while receiving $26,000 in rent. The council agreed, the Observer said, that the building needs upgrading to appeal to tech-savvy small businesses.

For the Observer story see: