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EAST LIVERPOOL--The Little Building might be on its way to having its first tenant, after Wednesday afternoon's meetings of the Finance and Property committees of the city's Community Improvement Corporation (CIC).
The Finance Committee approved a five-year, 3 percent interest $40,000 loan for Shawn DaVill, who is seeking to open two separate storefronts, one of which will sell their "signature Made-To-Order ice creams" and shakes frozen with liquid nitrogen as customers watch along with their baked goods.
The second neighboring venture will be a coffee and soda bar, which will sell nitro coffee infused with liquid nitrogen.
The committee still had questions for the other applicant, Rotating Equipment Services who is seeking $90,000 for a four-month term to purchase a main-mill motor for a current customer project.
There were questions regarding the ability to attach possible collateral to secure the CIC's position with action tabled until discussions can resume in the next couple weeks.
Applicant Christopher Morey owns a commercial garage at 1865 Park Way, which housed the former Executive Motors that he offered. The auditor's website shows it valued at $60,000.
Members of the CIC's Finance Committee decided to allow the owners of a downtown restaurant additional time to bring their loan current before proceeding with collection efforts. The named restaurant has not made any payments to their loan balance, which exceeds over the last 20 months, and their payoff day is December 1.
In other action, the CIC agreed to contribute $50,000 towards the $375,000 city's match, so they could apply for $1.5 million. According to figures provided by Mayor Greg Bricker, the city could raze between 215 and 300 of the city's condemned homes if that money is received.
A recently completed study by the Youngstown Neighborhood Development Corporation (YNDC) estimated that 500 houses in the city need demolished.
There were no developments on the former Riverview Florist property as purchase negotiations continue.