Four Covington Businesses Receive Incentives for Rent, Exterior Improvements
Thu, 12/16/2021 - 16:57 RCN Newsdesk
The City of Covington awarded more grant funding to subsidize rent and improve facades for four small businesses.
The city's small business program has now assisted 100 applicants since it was created five years ago.
On Tuesday night, the city commission approved the following incentives:
- $5,100 to subsidize first-year rent for Inspired Fashion, a boutique clothing and accessory store that recently opened at 827 Madison Ave.
- $6,000 to subsidize first-year rent for Painted Bread Marketing, a consulting firm whose clients include businesses and non-profit organizations. It’s located at 11 E. 5th St.
- $6,000 to Schreiber Family Trust towards $16,097 in exterior improvements of a commercial building at 212 W. Pike St. The work includes installation of a WOW automated irrigation system for flower boxes and repairing, sealing, and tuckpointing the masonry. It accompanies nearly $50,000 of interior renovation, a news release said.
- $6,000 to Lewisburg Gateway LLC toward $16,940 in exterior improvements that will help transform a vacant multi-family dwelling at 713 W. Pike St. into a mixed-use building. The work includes installation of a WOW automated irrigation system for flower boxes and replacement of first-floor windows.
“In five years, the Small Business Program has filled or improved 98,000 square feet of vacant commercial property with new businesses found throughout Covington,” said Ross Patten, assistant economic development director at the city. “We’re looking forward to seeing what we can do over the next five years.”
The incentives came during the second round of funding under the city’s Small Business Program, which sets aside $150,000 to help fledgling businesses with first-year rent and commercial property owners upgrade their exteriors.
With the allocations, the program still has $106,525 available through June 30, 2022.