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Shelby approves $10,000 forgivable loan for 17 East Street startup; rehab request deferred
Summary
The Shelby City Council approved a $10,000 forgivable small-business loan for applicant Maritza Hernandez for 17 East Street, contingent on proof of $20,000 in receipts. The council directed staff to review a related rehabilitation request and return it to a future agenda.
The Shelby City Council on Aug. 15 approved an Economic Development Program application from Maritza Hernandez for 17 East Street, awarding a $10,000 small-business start-up grant to be issued as a forgivable loan.
Councilmember Karen Schlueter moved the approval; Councilmember Jackie Hursey seconded. According to the minutes, the applicant must demonstrate $20,000 in receipts to receive the $10,000 forgivable loan. Council also instructed city staff to continue reviewing the applicant's separate rehabilitation request and to place that item back on a future agenda for further consideration.
The minutes do not specify additional terms of forgiveness or the timeframe for submitting receipts. No vote breakdown by member was recorded beyond the roll call statement that the motion carried with all ayes.
