Covington helps four other small businesses with exterior improvement loans
â¢ Counseling and welfare services. At this point, the Covington Council of Commissioners has approved the granting of forgivable loans to help improve the exterior of four commercial properties that house: â¢ A horticultural supplies business that is expanding to a new location.
â¢ And a small home med-spa.
â¢ A long-standing Covington-based pediatric care office.
Two of the properties support women-owned businesses, two will create jobs and three will use local contractors for facade projects. Ross Patten, deputy director of the City of Covington’s economic development department, called the scenario a âwin-win-winâ.
âIt’s great to see four existing businesses tap into our facade program this time around, but it’s even more impressive to see their commitment to the community by hiring local Covington contractors,â said Patten.
The shops are spread over three districts: Mutter Gottes, MainStrasse and Central Business District.
This work is accompanied by $ 25,155 in interior work.
â¢ Tippcork-Rooskey LLC is performing a major refurbishment in a highly visible building at 106 E. Fourth St. (next to Molly Malone’s Irish Pub) which is the new home of Garden Grove Organics, a horticultural supply store that has moved from Scott Street. The $ 4,075 loan will help fund $ 8,150 in facade improvements, including new signage for Garden Grove and an original mural, both created by Covington contractors. In addition, work on the building, which once housed a series of restaurants, included $ 43,000 in exterior upgrades and $ 80,000 in interior renovations. Garden Grove Organics adds three jobs to support the two employees it has retained. â¢ Juan and Rachel Hiraldo will receive $ 6,000 for $ 16,000 in exterior work at 613 Main Street, where they own and operate Vivify Counseling and Wellness. The project includes the repair, grouting and sealing of the building’s masonry; repair damaged cornices and soffits; repaint; and the addition of a guardrail. It supports $ 15,000 in interior work. This facade loan therefore supports an existing business owned by a woman who will add two employees to its new location. â¢ Main Street Medical is a long-standing business – Pediatric Care of Kentucky at 924 Main St. Its loan of $ 4,300 will go to $ 8,600 in exterior work, including painting and washing, scraping and painting of everything. wood and trim as well as metal window frames, and metal flashings, valleys, lights, letterbox and doors.
The project will use a contractor from Covington and is located in a section of MainStrasse that has so far seen less investment. â¢ Kathleen Jones owns the Kathy Jones Aesthetics medical spa, which opened in 2019 at 120 W. Fifth St. Her loan of $ 6,000 will be used to repair and restore $ 25,000 to nearly all historic windows. of the property, as well as painting, which will be done by a local contractor. The project is accompanied by $ 25,000 in interior work.
This loan supports a business owned by a woman.
Patten said the four recipients have raised more than $ 80,375 in private investment, a private-to-public investment ratio of nearly 4: 1, and are supporting the growth of four Covington companies. There are three laps left
The group facade incentives of $ 20,375 represent the first round of the City’s annual small business program, which, again this year, has $ 150,000 available. The approved incentives leave $ 129,625 on the table to fund future funding rounds, which take place quarterly.
Details on the two components of the Small Business Program are available HERE.
The rent subsidy program offers up to $ 500 per month for the first year’s rent for 12 months. The Facade Improvement Program offers a forgivable loan of up to $ 6,000 to match dollar-for-dollar investments in exterior improvements to a commercial building.
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