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Venture South Productions

ID: ED20211020
Inner City Economic Development Loan
County Comission District: | City Council District:

Summary

Venise Settles, doing business as Venture South Productions, was awarded a $20,000 Inner City Economic Development (ICED) Loan to help complete roof and other exterior repairs, interior upgrades, and HVAC installation at 2622 Poplar Avenue. Total project costs qualified for the ICED program are $41,100.

Ms. Settles has a Master of Fine Arts in Acting and Performing Arts from the New School of Drama in New York. She has worked as a communications and acting instructor with the University of Memphis and Shelby County Schools. She has worked on productions with Hattiloo Theatre and Playhouse on the Square. Ms. Settles has business experience as a professional stylist and marketing analyst.

Ms. Settles has launched a non-profit training center for the visual and performing arts. She has planned adult art, dance and poetry classes to begin in January. An arts program for children 6 to 17 is planned for the summer of 2022. Other workshops will be scheduled regularly throughout the year.

The loan will help Ms. Settles renovate the 2,400 square foot space in a building constructed in 1930 by repairing interior walls, floors and ceilings, making the restroom handicap accessible, repairing the roof, and upgrading the HVAC system.

The project is supported by The Binghampton Development Corporation.

Loan Term:

3 years

Interest Rate:

Not applicable

Projected New Jobs:

1

Projected Retained Jobs:

4

Average Payroll:

Not applicable

Loan Amount:

$20,000

Loan Use:

Not applicable

Total Projected Capital Investment:

$41,100
Real Property:
Not applicable

Acquisition:
Not applicable

Construction:
Not applicable

Renovation:
Not applicable

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

10/20/2021

Closing

Not applicable

Venture South Productions

2622 Poplar , Memphis, TN 38112