Having a good “face” in your business is a good business.
In the meantime, the Covington Board of Commissioners approved the extension of the Forgiveness Loans to help improve the outlook for four commercial properties.
• Growing fruit and vegetable supply in a new location.
• Counseling and health services.
• Long-term Covington-based child care bureau.
• George: And a little home-made spa.
Two of the properties support female-owned businesses, two increase employment opportunities, and three employ local contractors for construction projects. Ross Patton, assistant director of the City of Covington Department of Economic Development, called the situation “a win-win situation.”
“It’s great to see four rounds of existing businesses being included in our face-to-face program in this round, but it’s even more impressive to see their commitment to the community by hiring local Covington contractors,” Patten said.
The businesses will be located in three neighborhoods – Mutter Gottes, MainStrasse and Central Business District.
• Tippcork-Rooskey LLC At 106 E. Fourth St. (next to the Molly Malon Irish Pub), New Scott Street is undergoing major renovations in the new high-rise building of a fruit and vegetable supply store.
The $ 4,075 loan will help $ 8,150 with facelifts, including a new Paradise Grove and French mural for Coveton contractors. Separately, work on a single-story restaurant building included $ 43,000 for external renovations and $ 80,000 for internal renovations.
Vegetable Grove Organic is adding three jobs to accompany the two captured workers.
• Juan and Rachel Hiraldo Viviv owns and operates at 613 Main St. He earns $ 6,000 to $ 16,000 for overseas work.
The project involves repairing, pasting, and printing the building. Repairing damaged ceilings and sofas; Painting; And adding rails. It includes $ 15,000 in internal work.
This face-to-face loan will support an existing female-owned business that includes two employees at the new location.
• The main road treatment It’s a long-term business – Kentucky Child Care at 924 Main St. His $ 4,300 loan goes to $ 8,600 for overseas work, including painting, washing, scraping, and all wood and sawmill, as well as metal window frames, and metal sparks, valleys. , Lights, mailbox and doors.
That work comes with $ 25,155 in internal work.
The project employs a Covington contractor and is located in the MainStrasse section, which still has a small investment.
• Kathleen Jones A.D. In 2019 at 120 W. Fifth St., her $ 6,000 loan to $ 25,000 for repairs and almost all of the property’s historic windows, as well as painting of Medi-Spa Katie Jones, is also done by a local contractor. . The project will cost $ 25,000.
This loan supports the female-owned business.
Patton said the four recipients have invested more than $ 80,375 in private investment, an estimated 4: 1 ratio of public investment, and support the growth of the four Covington businesses.
Three rounds left
The joint $ 20,375 face-to-face incentives represent Round 1 of the city’s annual small business program, which is expected to reach $ 150,000 again this fiscal year. Approved incentives leave $ 129,625 on the table to support future financial support for the quarter.
Here are two details on the small business program.
The Rent Subsidy Program provides up to $ 500 a month for the first year of rent for 12 months. The Front Improvement Program provides loans of up to $ 6,000 to link foreign trade improvements to dollar building investments.
City of Covington