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EDA approves $15,000 TIF grant for Apex Title at 114 West Eighth Street
Summary
The Economic Development Authority approved a $15,000 small-business enhancement assistance award for exterior improvements to a new Apex Title office at 114 West Eighth Street; the project cost for exterior work is reported as $30,003.70 and the TIF committee recommended approval.
The Economic Development Authority on June 16 approved a $15,000 small-business enhancement assistance award for exterior improvements associated with a new Apex Title location at 114 West Eighth Street.
Brady Moore told the EDA the request covers exterior rehabilitation of the building being purchased for Apex Title and that the project meets the assistance cap. Moore said the exterior improvements’ total project cost was $30,003.70 and that the requested assistance equals the program maximum of $15,000.
Paul Cooper, the contractor on the project, said the plan calls for removing the front facade, installing about 9½ feet of glass across the front, applying Venetian plaster, adding canopies and exterior lighting, and modernizing the frontage. Cooper also said the space is about 2,500 square feet.
The TIF committee recommended the application for approval. Moore moved to approve the application for Apex Title; a trustee seconded. The EDA voted 5-0 to approve the $15,000 award, recorded by the trustee as a 5-0 vote.
Trustees and staff framed the award as a way to retain revenue and activity in Stillwater by supporting a business that operates in multiple locations across the state. The transcript records the recommendation and approval; it does not record additional conditions or follow-up reporting requirements.
The award applies only to the small-business enhancement assistance through TIF District No. 3; permit, lease or other contractual matters were not discussed on the record.
