The Irish Brothers present their request for downtown event funding to the Jamestown Local Development Corporation (February 15, 2023)

Over $105,000 in grants and loans have been approved for four downtown events.

The Jamestown Local Development Corporation heard presentations from five organizations, tabling one at its monthly meeting Wednesday.

Funding approved includes:

– $9,500 for the Irish Brothers to appear at St. Luke’s Episcopal Church on March 15,
– $10,000 for Roger Tory Peterson Institute‘s two-day presentation of the Banff Centre Mountain Film Festival World Tour at the Reg Lenna Center for the Arts in April
– $49,970 for the 2023 Whirlybird Festival in July that includes $24,900 in grants and a $25,000 loan
– and $35,700 for four Earlybird concerts that includes $10,700 in grants and a $25,000 loan.

A $42,500 request from St. Susan Center to bring in CashCab’s Ben Bailey for a Trivia Night fundraiser was tabled, with JLDC members requesting additional information about the space for the event.

The JLDC Board also approved funding eight businesses under the Business Expansion and Building Acquisition (BEBA) Grant program. City Council allocated $750,000 in American Rescue Plan monies for the program with $749,980 in requests received.

Department of Development Grant Manager Tim O’Dell said the businesses receiving funds have promised to create 40 full time jobs and 18 part-time positions, “To mention as well, the contracts, if approved they would be signing as structured as a 50% grant and 50% forgivable loan. The forgivable loan portion comes into as they will need to meet their employment goal. And if not, they will have until December 31, 2026 in order to obtain that goal. And if they weren’t to obtain that goal, they would pay half of it that was the loan portion if the jobs were not met.”

The eight businesses who were approved funding are:
– The Beer Snob – $60,000
– BW Wholesale Florist – $83,335
– Falcon Acquisitions – $93,480
– Fringe Hair Salon – $58,500
– It’s Your Day – $64,000
– Labyrinth Press Company – $114,855
– Panache – $167,105
– and Summit Wealth Management – $108,705

Building Acquisition & Business Expansion Grant funded Companies

Jamestown Economic Development Coordinator Stephanie Wright shared that 54 businesses were notified directly about the grant program with 19 declining to apply.

O’Dell said they heard from the Small Business Development Center that often businesses don’t have the time to invest in the application process, “And they don’t want to go to a commitment like that, as it’s a very long project in when the American Rescue Plan ends. And we’ve also run into instances where either they’re just not interested, they do not want to participate, as well as some businesses do not want to get involved in government programs.”

O’Dell said the Department is working with SBDC and the Chamber of Commerce on getting out the word on the next set of business grant programs. He said SBDC also will help businesses complete the grant applications.

The grant applications for Labyrinth, Panache, and Summit Wealth Management will now appear under new business on City Council’s voting agenda on Monday, February 27. Any grant that exceeds $100,000 must also receive council approval to move forward.

Grant Manager Tim O’Dell presents on business grant fund to the Jamestown Local Development Corporation board. (January 18, 2023)

Jamestown Local Development Corporation board members are requesting to review Business Expansion and Building Acquisition grant applications.

The American Rescue Plan funded program was allocated $750,000 by City Council with $749,980 in requests received from eight Jamestown businesses.

Department of Development Grant Manager Tim O’Dell said the City will experience a return on investment from the eight businesses who applied for funding, “All of these businesses have acquired property that was prior vacant or was partly vacant. And they will be running business operations there to make use of these buildings that delayed them from further decay and waste. And for this grant as well, many of these businesses are seeking to use these new spaces to create employment and optimize their business strategies.”

O’Dell said most of the work being done at the businesses includes HVAC repairs, roofing, interior work, and remodeling.

JLDC Board member and City Council Finance Committee Chair Kim Ecklund requested to see the business applications given that there were only eight received total, “It’s unfortunate that we only got eight because some of these people have received multiple funding other places too and some have not like Falcon Acquisitions is new, but I know we’ve seen Labyrinth get some funding and we’ve seen Panache get some funding through some other entities. So, they’re not newly getting funding, so I would’ve liked to see some new businesses, not necessarily new businesses, but new applications, if you will.”

JLDC Board member and Council President Tony Dolce agreed that all JLDC Board members should receive the applications to review.

The eight businesses who requested funding are the Beer Snob, BS Wholesale Florist, Falcon Acquisitions, Fringe, It’s Your Day, Labyrinth, Panache, and Summit Wealth Management.

The Jamestown Local Development Corporation Board will vote on the BEBA applications at its February meeting, which is scheduled for 5:30 p.m., Wednesday, February 15.

Welch Administration Building, Westfield, New York

The former Welch Administration Building redevelopment project in the village of Westfield has moved another step forward.

The Chautauqua County Industrial Development Agency Board approved a PILOT and tax lease incentives for adaptive re-use of the $11.5 million project being undertaken by 2 Portage, LLC. This includes real property, sales tax, and mortgage recording tax abatements.

The entire 48,000 square foot building will be renovated to create a mix of residential apartments and commercial tenant space.

Subject to additional approvals needed, acquisition is anticipated in 2022 with an 18-month construction period and an estimated occupancy in mid-2024.

The IDA board also approved a $154,000 Al-Tech Loan to Falcon Acquisitions.

The loan is part of a $472,500 finance package for the purchase and renovation of 111 Cheney Street by Falcon Conveyor Owner Scott Clark. Clark plans to open a steel belt conveyor manufacturing facility. The Jamestown Local Development Corporation approved a $93,750 loan in November and the Greater Jamestown Empire Zone Capital Corporation approved a $50,000 loan as well for the project.