Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Winchester wins $1M CDBG to support S and K Industrial expansion; 50 jobs pledged
Summary
The commission heard that a $1,000,000 Community Development Block Grant will fund equipment purchases for S and K Industrial’s new Winchester facility, with a $969,000 equipment budget, a capitalized lease and a commitment to create at least 50 jobs, 26 for low‑ and moderate‑income residents.
An unidentified city presenter told the Winchester City Commission that the city has been awarded a $1,000,000 Community Development Block Grant to support S and K Industrial’s planned expansion into Winchester Industrial Park. The presenter said the industrial authority will be subrecipient and will purchase $969,000 in equipment to lease to S and K through a capitalized lease that will convert to ownership after seven years of payments at a fixed 2% interest rate.
The presenter said the grant is contingent on job creation: S and K committed to hire at least 50 full‑time‑equivalent employees for the new Winchester facility, and at least 26 of those positions must be filled by low‑ and moderate‑income residents under the CDBG rules. He added that roughly $30,000 of the grant is budgeted for administration and that the city must complete required CDBG compliance paperwork covering procurement, nondiscrimination and fair housing under the Community Development Act of 1974 before funds are drawn.
“Low and behold, that grant has been approved for the city for $1,000,000,” the presenter said, summarizing the award and the next steps. City staff said state and federal agencies with jurisdiction must sign off before the project proceeds and that the mayor or Mr. Manning will need to sign withdrawal requests to allow the Industrial Authority to access the funds.
Commissioners asked procedural questions about the three‑party agreement among the city, the Industrial Authority and S and K, and staff said the Industrial Authority would act as the subrecipient and administer the equipment purchase and capitalized lease. No final procurement or contract award was recorded during the meeting; staff said those steps will follow after required environmental and administrative clearances.
The city’s next steps include completing the CDBG compliance checklist, executing the three‑party agreement and securing any required state or federal approvals before project implementation can begin.
