SV EDA approves loans for
four downtown businesses
Wednesday, November 06, 2013 2:39 AM
The Spring Valley Economic Development Authority held a special meeting on Friday, Nov. 1, to review four revolving loan fund applications.
The loans come from a special fund within the revolving loan fund to aid downtown improvements. Most are being used in conjunction with small cities block grant funds.
The board first reviewed Phil and Cyndi Sheldon's applications for their three commercial properties. Much of the work to the former True Value building includes HVAC systems, electrical and making the building more energy efficient.
Each property was approved for $10,000 to go toward the renovations.
Red Essig, owner of Essig Agency, was approved for $4,500 from the revolving loan to put toward a new roof and possibly new paint, which he plans to complete in late spring.
Dave's Plumbing and Heating, owned by Dave McHan, will be repairing the building's roof and fire escape with the approval of the board for $10,000, contingent on the final bid being received.
Finally, Elaine and Dave Horsman's $10,000 application for building improvements was approved also pending the submission of the final bid.
The EDA will meet for its regular meeting on Nov. 13 at 8:30 a.m.