City discusses TIF agreements

MT. VERNON The council will be presented with seven Tax Increment Finance Redevelopment agreements on Monday.

More than 12 projects were presented to the Downtown TIF Advisory Committee last week, but grant recommendations were not discussed at that time.

The projects which will be presented for consideration of TIF funds are for King City Books, R&R The Crossing, Girolamos, Headpieces by Toni, Once Upon A Lifetime Photography, the William D. and Phyllis A Edminson Trust and Steven L. Beal.

Kendra and Dale Peterson have been recommended to receive 47 percent of total projects costs for King City Books, not to exceed $40,000, which will be paid from 2013-14 TIF proceeds to rehabilitate a building on Ninth Street. The total project includes demolition, wood floor repair and refinishing, new wood partitions, plaster repair and painting, an electrical upgrade, coffee counter and equipment, shelving and furnishing, virtrolite repair, window restoration, new signage, plumbing and professional fees.

Randy and Linda Lowery owners of R&R The Crossing have been recommended to receive a grant in the amount of 42 percent of total project costs not to exceed $50,000. The funds, if approved, will be paid from 2013-14 TIF proceeds.

The project will rehabilitate the business building, which has a total project cost estimate at $119,700. The work includes tuck pointing, repair of front awning, new top band, new doors, new windows, paint, signage and removal of old awning; new ceilings in the front bar, removal and rebuilding of closets, removing the double door entrance; remove barn wood and replace and repair several walls, install new ceiling fans and re-do the bar; put new ceilings

in the back bar and restrooms, paint and re-do the walls, remove the old heating system, cut down the bar and install new fireplaces; and remove and install new flooring throughout.

Girolamos has been recommended to receive a grant of 23 percent of the total project costs not to exceed $75,000 paid from 2013-14 TIF proceeds.

The total project undertaken by owner Frank Barlotta for 815, 817 and 819 Jordan St., is estimated at $323,500 which includes $265,000 in building renovations, $45,000 in building acquisition and $13,500 in equipment.

Headpieces by Toni, owned by Toni Federici, has been recommended to receive a grant of 37 percent of total project costs not to exceed $10,000 to be paid from 2013-14 TIF proceeds.

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City discusses TIF agreements