City Of Troy Discusses TIF Funds
During Monday evening’s Troy Finance and Economic Development meeting the primary topic was in regards to the final stages of TIF funding for the city and what the city plans on doing with he funds, moving forward.
Mayor Allen Adomite announced that there are just under two years of TIF left as funding will run out on December of 2021.
This year’s TIF budgeting including a $1.4 million dollar bike trail expansion as well as the construction of a splash pad. both essential to helping to continue to bolster the amenities available within the city.
Several private entities were onhand to talk about their TIF applications for improvements to their business. By per view of the city, the TIF allows to help with assistance of a project hat qualifies for TIF funding up to 50 percent of the total project cost.
Kelly Tompkins of Elite Detail Carwash on 259 South Liberty Road requested financial assistance to help remodel and beautify the building. Part of the remodel consists of re-doing the parking lot.
“We are just going to revamp, what we have,” Tompkins said.
Tompkins total project cost was roughly $43.264, but his primary focus to obtain funds from the city is to enhance the outside appearance of the space.
“My money that I’m asking for would do the parking lot,” he said. I would like to do a stone fascia around the base of the building to dress it up completely.”
Jen Faulkner of “The Sanctuary on Main” was present to ask for assistance for some of the renovations that took place to help transform the old Methodist Church into a classic, yet modern wedding chapel and event venue.. The total cost of the entire restoration process exceeded $200,000, with Faulkner asking for $50,000 to help cover the electric, plumbing costs of the project, and a wheelchair lift mechanism which fall under TIF guidelines.
“We’re asking for $50,000 and that will help offset some of the ADA (American Disability Act) requirements,” Faulkner said.
Faulkner followed by stating that the bathrooms needed extensive work to be ADA compliant.
Mayor Adomite appreciated the work that Faulkner and her business partner had done to help restore the building.
“I think we all understand it was a pretty decrepit old church building and without your investment it was probably just going to sit there,” he said. “We are exciting that you guys are investing it.”
The Sanctuary on Main is located on 114 S Main Street and will be opening soon to entertain private parties, weddings, receptions and bridal/baby showers.
Joe Switzer and wife Ashley rounded out the TIF application presentations as part of a $5,000 storefront request to their new building.
The building in discussion is the new headquarters for Switzer Film and is located on 107 E Market Street.
The total cost of their project was estimated at around $14,000. The potential $5,000 in assistance would help cover the cost of paint, windows and doors.
“We don’t want to take any shortcuts, that’s kind of our mantra,” Joe Switzer stated. “We are a bunch of creatives so there was a lot of thought put in for design to really make it look new,” Ashley Switzer followed.
The space will be used for the company to edit film. Currently Switzer film produces commercials for Scott Credit Union, Disney, Hilton and Visit Florida.
All application requests will be voted on during the next city council meeting.