Seven city businesses are on the verge of receiving a combined $1,382,973.34 in federal stimulus funds.
Included on the agenda for today’s voting session of the Jamestown City Council are seven American Rescue Plan Act Business Property and Infrastructure Improvement Grant requests. The program is administered by the Jamestown Local Development Corporation. The grants include:
¯ $198,363.12 to Dawson Metal Company
¯ $198,363.12 to Artone LLC
¯ $192,794.62 to International Ordinance (IOT)
¯ $198,363.12 to National Wire and Metal Technology Inc.
¯ $198,363.12 Colecraft Commercial Furnishings
¯ $198,363.12 Shawbuck’s
¯ $198,363.12 to El Greco Woodworking.
The six applications being discussed by the council require City Council approval due to their size. The Jamestown Local Development Corporation last week approved 10 of the 17 applications received for the Business Property and Infrastructure Improvement Grant program. Each of the businesses is receiving slightly less than the $200,000 maximum grant they had requested so that the 10 approved programs can fit into the $1.5 million the council approved.
Each of the businesses awarded through the program are required to match at least 25% of the project cost and are limited to under $200,000 in funding from the city. Sundquist explained any application exceeding $100,000 would be sent to the City Council for final approval.
Funding is expected to be distributed starting Nov. 1.
The council’s agenda also includes budget presentations for the city clerk and treasurer’s office, assessor, comptroller, information services and corporation counsel at 6:30 p.m. in the police training room in city hall.