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Council approves $500,000 loan to Guardian Structural Technologies to support local expansion
Summary
Council approved an emergency loan to help Guardian Structural Technologies buy equipment for a new facility at 18105 Cleveland Parkway: city staff described a $500,000, seven-year loan at 5% expected to retain 11 jobs and create 16 new full-time positions.
City Council approved an economic development loan to assist Guardian Structural Technologies in expanding operations to a new lease at 18105 Cleveland Parkway.
Project manager Bobby Bruno and company representative Brett Fuell told council the company makes high-performance building-envelope systems and needs about $1.5 million in equipment to expand into a roughly 35,000-square-foot location (with planned expansion to about 48,000 square feet). They requested a $500,000 loan from the Department of Development to finance equipment purchases.
Staff described the loan as a seven-year term at 5% and said the expansion would retain about 11 existing manufacturing jobs and create 16 new full-time positions, adding roughly $967,000 in payroll and an estimated $24,000 annual income-tax benefit to the city.
Council members asked for examples of prior projects and construction uses; staff and the presenter said the company has delivered projects in the city and that additional documentation could be provided. After questions, the chair reported the ordinance (402-2026) as approved as amended.
