Economic development board approves $50,000 BEAR reimbursement to HIS Ministries for building electrical upgrades
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Summary
The city’s economic development staff said the BEAR (Business Expansion, Attraction and Retention) committee unanimously approved a $50,000 reimbursement to HIS Ministries for electrical upgrades to a vacant building on Highway 6. Reimbursement is conditional on completion, certificate of occupancy and demonstration the tenant moved in.
City economic development staff told the council Jan. 23 that the Economic Development Corporation’s BEAR program review committee unanimously approved a $50,000 reimbursement request from HIS Ministries to fund electrical upgrades at 13136 Highway 6.
Josh, staff with the EDC, said HIS Ministries is renovating a vacant building to expand its thrift-store operations and community services. The review committee recommended reimbursing the organization $50,000 for electrical work that will bring the building up to code; the EDC will reimburse costs after the building is finished, inspected and a certificate of occupancy is provided, Josh said.
Josh said the BEAR program funds are intended as a beautification and vacancy-reuse program for smaller projects; the EDC has roughly $120,000 available under the current guidelines and committed $50,000 to this first application. Josh told council he expected word-of-mouth will increase future applications after one successful reimbursement.
Council members asked questions about criteria and process. EDC staff said projects that exceed program limits, or projects that require infrastructure work beyond façade or interior improvements, would be considered by the EDC board for a separate review.
