Lexington EDC Invests in Businesses and Ball Park
The Lexington Economic Development Corp. announced this week that they are continuing to offer a business grant program for projects to benefit the business community in the City of Lexington. Last year, during their 2010-2011 fiscal year, which runs October 1 through September 30, the LEDC spent just under $9,800 on local businesses, and this year they have budgeted $10,000 to assist businesses through their grant program. In addition to their investment into local businesses, the LEDC invested over $150,000 in the new Little League Ball Park in 2011. Their plans include building another ballfield, a parking area and a concession stand at the City Park in the near future.
According to the Lexington EDC, the Business Grant Program will provide grant monies, much like they did last year, for eligible projects, which will enhance the atmosphere of the Lexington business community. This grant program goal is to encourage growth and promote economic vitality within the City of Lexington. Eligible businesses may apply for up to $1,000. Not only is the goal of the program to encourage growth and promote economic vitality within Lexington, it is also to support the Lexington business community in efforts for expansion, development and job creation, as well as to encourage revitalization, renovation and development that enhance the atmosphere of the Lexington business community.
During the 2010-2011 fiscal year, the LEDC provided funding for projects for thirteen different businesses, including the Lexington Senior Citizens, The Dowdy House, Garry Brown Real Estate, El Matador Mexican Grill, Angel Kisses Antiques, Eagle Auto Works, My Friends House, 40 Acre Wood, The Chicken Shack, Country Time Salon, Hutson Bulldozing, Carter Plumbing and signage for the City of Lexington.
Businesses located within the city limits of Lexington are eligible to apply. The business must occupy the building or location submitted for consideration in the grant application. Grant funds shall only be used for exterior elements of the business location visible to the general public. Projects must be consistent with promoting a positive impact for the Lexington business community. They must be permanent, not seasonal or temporary, to be eligible for grant consideration. The projects must be in compliance with City of Lexington Code of Ordinances. The business owner or representative must submit completed plans and project description with their application. A minimum of two contractor bids must be included with the application and the project must be completed within four months of grant approval. Grant awards will be paid to the business owner upon completion of the project, in accordance with paid receipts from contractors, suppliers, etc., other than the business or property owner. Grants are limited to one per business in a fiscal year.
Examples of eligible projects for funding include signage, landscaping, exterior “facelifts” or lighting at an entrance. Ineligible projects include interior projects, remediation, routine maintenance, roof or roof repairs.
Anyone interested in applying for a LEDC Grant can submit their applications to the Lexington EDC.