Youngstown to spend $3.6M. The city’s board of control approved contracts to spend $3,586,222 in American Rescue Plan funding that previously was authorized by city council.
Approval by the board — consisting of Mayor Jamael Tito Brown, Law Director Jeff Limbian and Finance Director Kyle Miasek — is needed for ARP funding after council votes in favor of it.
The board unanimously approved five ARP spending allocations Thursday.
Two items, sponsored by Brown in council chambers, cost $3 million in total.
One is a $2 million revolving loan to help small businesses “grow and generate new employment opportunities,” according to the board. Its focus is on small businesses impacted by the COVID-19 pandemic that are having trouble acquiring funds from traditional lending institutions, Nikki Posterli, the mayor’s chief of staff and director of community planning and economic development said.
The maximum loan amount per business is $150,000 with the loan terms of at least five years.
The $1 million business facade program would provide up to $20,000 to each commercial property to pay for the cost of exterior improvements. Each year the business remains open in its location, 20 percent of the loan is forgiven so after five years it is converted into a grant, Posterli said.
Both programs are being administered by Valley Partners, which focuses on assisting small businesses in the Mahoning Valley.
Applications for the programs will be accepted starting Tuesday. Information on the application process will be available at youngstownohio.gov/business_services.
The three other ARP programs were sponsored at council meetings by council members.
Council voted last April to give $2 million in ARP funding to each of its seven members to spend in the wards.
The largest amount approved Thursday by the board was $300,000 from Lauren McNally, the former 5th Ward councilwoman who resigned to serve in the Ohio House.
The money is for the Western Reserve Port Authority to “administer the Mahoning Avenue redevelopment project to provide acquisition of vacant lots, abandoned buildings, rehabilitation, renovation, remediation, greening and cleanup” of that West Side corridor, according to the board’s agenda.
A previous $200,000 request by Councilman Mike Ray, D-4th Ward, for the same efforts along Mahoning Avenue was approved.
Also, the board approved spending $146,222 to have the Youngstown Neighborhood Development Corp. hire a quality of life and property maintenance ambassador for the 7th Ward, which was sponsored by Basia Adamczak, that ward’s councilwoman.
To read the full story from The Vindicator, click here.
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