Action by CIC board advances proposed business within city
EAST LIVERPOOL — Decisions approved Tuesday by the Community Improvement Corporation (CIC) board of trustees should pave the way for new businesses to open in the city.
Acting on a recommendation by its finance committee, the board approved a $20,000 loan to local banker Michael Palmer, who plans to reopen the laundromat at 930 St. Clair Ave.
Total cost estimated for the renovations, permits and equipment is $120,000, with Palmer expecting to pay all that on his own except for the $20,000 he is borrowing from the CIC.
Prior to voting on the recommendation, board member Connie Javens — a colleague of Palmer’s at Farmer’s Bank — said the original recommendation was that the loan be secured with the equipment he has in place but said Palmer will have the bulk of the money to repay the loan by Oct. 10 when he receives stock option revenue he is expecting.
Javens said, “If I had it, I would loan it to him,” and member Al Fricano, who had initially suggested the secured loan, said he had no problem with it being unsecured.
The motion was made to loan Palmer $20,000 unsecured for nine months, which was approved unanimously, although member Don Heldman expressed some concern for a contractor Palmer had hired.
President Pat Scafide noted the contractor had acquired his contractor’s license, had shown proof of insurance and registered with the city income tax department, as required of all contractors working in the city.
Also approved unanimously was the final step in swapping property at the corner of Third and Market streets formerly owned by the city to Ray Trevellene, owner of the Hot Dog Shoppe, in exchange for his property, the former Salvation Army building, right across the street, which, in turn, is being turned over to the Team Impact organization at no charge.
Mayor Ryan Stovall said Trevellene had been interested in the lot owned by the city which was no longer being used as a parking lot, while the city had been approached by Team Impact about wanting to put a gym and nail/tanning salon in the old Salvation Army building.
In order for the city to give Trevellene the property, it had to be transferred to the CIC, a step which took place last year with council action and CIC board action.
This final step was to actually complete the swap with Trevellene.
While no money changed hands between the three entities, Executive Director Bill Cowan pointed out this is the same type of transaction which took place in getting the New Castle School of Trades project in place, and Stovall noted, “It helps with economic development. Team Impact will get the property; Ray will get the parking lot; the city will have no property or building.”
Finally, Scafide named new committee assignments for the CIC, including the following chairmen: William Cowan, executive committee; Craig Kidd, property management; Nicole Fitch, river development; Al Fricano, finance; and William G. Curtis, housing and business and industrial development.
He reminded chairman they are required to notify the media of upcoming meetings and to take and retain minutes of all committee meetings, telling them, “We want to be a committee-driven corporation,” and urging them to bring business to their committees prior to taking it to the full board.