Seven city businesses are about to receive a total of $1,382,973.34 in federal stimulus money.
On the agenda for today’s Jamestown City Council voting meeting includes the seven-item America Relief Program Act Commercial Property and Infrastructure Improvement Grant Application. The program is administered by the Jamestown Local Development Corporation. Grants include:
¯ $198,363.12 to Dawson Metals
¯ $198,363.12 to Artone LLC
¯ $192,794.62 to International Regulations (IOT)
¯ $198,363.12 to National Wire and Metal Technology Inc.
¯ $198,363.12 Colecraft Commercial Furniture
¯ $198,363.12 Shawback’s
¯ $198,363.12 to El Greco Woodworking.
The six applications the city council is discussing require council approval because of their size. The Jamestown Local Development Corporation last week approved 10 of 17 applications for the Commercial Property and Infrastructure Improvement Grant Program. The maximum grant each business received was slightly less than the $200,000 they requested, so 10 approved projects could accommodate the council-approved $1.5 million.
Each business awarded through the program must match at least 25% of the project cost and receive no more than $200,000 in funding from the city. Sundquist explained that any application over $100,000 will be submitted to the city council for final approval.
Funding is expected to begin being distributed in November. 1.
The council’s agenda also includes a 6:30 p.m. budget presentation in the City Hall Police Training Room for the City Clerk and Office of Finance, Assessors, Auditors, Information Services and Corporate Counsel.