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Tyler's Grocery
ID: ED20150201
Inner City Economic Development Loan
County Comission District: | City Council District:
Inner City Economic Development Loan
County Comission District: | City Council District:
Summary
Anthony Warr, dba Tyler’s Grocery & Deli, is seeking a $22,000 Inner City Economic Development (ICED) Loan to help with facade improvements at 973 East McLemore Avenue.The ICED loan would complete a combined $33,000 investment into the the East McLemore Avenue building.
The loan will help retain 2 jobs, is projected create 2 new jobs, and allow Tyler’s Grocery & Deli to make façade and interior improvements to the 5,250-square-foot building.
The convenience store/cafe, will occupy 3,800 square feet and expand its ability to serve meals to residents and visitors in the Soulsville neighborhood and the improvements would also help acquire a new tenant in the third bay of the building.
Loan Term:
3 years
Interest Rate:
0%
Projected New Jobs:
2
Projected Retained Jobs:
Not applicable
Average Payroll:
Not applicable
Loan Amount:
$22,000
Loan Use:
Facade and Interior Improvements
Total Projected Capital Investment:
$33,000
Real Property:
Not applicable
Acquisition:
Not applicable
Construction:
$3,644
Renovation:
$29,356
Machinery & Equipment:
Not applicable
Furniture, Fixtures, Office:
Not applicable
Equipment:
Not applicable
Fees & Soft Costs:
Not applicable
Permanent Working Capital:
Not applicable
Miscellaneous:
Not applicable
Approved
2/4/2015
Closing
Not applicable