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Three local businesses will be able to move forward with business expansion plans, as the City Council and the Jamestown Local Development Corporation have now both approved grant funding applications.
During Monday's voting session, the City Council unanimously approved three resolutions providing American Rescue Plan Act funding for three applications under the city's Business Expansion and Building Acquisition grant funding program.
After tabling the three grant applications during last month's voting session, the City Council held a joint session with the JLDC board earlier this month. During the joint session, the owners of Summit Wealth Management, the Labyrinth and Panache each had the opportunity to present their plans for the utilization of grant funding under the Business Expansion and Building Acquisition program to enhance their businesses and benefit the local community. During Monday's voting session, City Councilman Jeff Russell, R-At Large, told the public that multiple City Council members also toured the businesses to better understand each of the grant funding proposals.
"There were several council members that did go to these businesses, and the business owners did show them around and basically showed them their project that is going on," he said. "There were council members that did do their due diligence when they were invited to check out the projects."
While Summit Wealth Management's grant application was originally approved by the JLDC board for $108,705, City Councilman Andrew Faulkner, R-Ward VI, made a motion to amend the amount to $83,100, an amendment that was unanimously approved by the City Council. Following the meeting, Faulkner explained that the amendment to the resolution was added because $83,100 is the amount that is need to finish Summit Wealth Management's project.
"They've already started it and been working on it," he said. "They recently purchased the building. They're making their renovations to kind of fit what they need and the effects of COVID-19 what they needed. The form that we received at the last work session or two ago, whenever it was, that had the breakdown of it and that will give them what they need to complete the project."
After altering the funding amount for the first grant application, the City Council approved the JLDC's full $167,105 grant for Panache Salon and Day Spa.
'This is one of the locations that I visited," Russell said. "I was kind of hesitant. This is a large amount of money, but to see the amount of work that's going into this business and it truly fits this program of expansion and what she plans on doing with her business, and she's definitely entrenched in our community and is an asset to our community."
City Councilwoman Marie Carrubba, D-Ward IV added that each of the salon workers are directly employed by Panache. Unlike many other salons, where individuals rent space to provide services, each of the individuals at Panache are considered employees of the business and eligible for benefits such as unemployment during COVID-19. Carrubba shared that Panache has plans to expand and hire additional employees in the future. She said Panache is also working with BOCES to encourage "young people" to enter the salon business.
"She also offers health insurance to her employees and retirement benefits as well, with up to a 3% match, which in that industry, that's very uncommon to offer those benefits, so I was very impressed by that," Russell said.
Finally, the City Council approved the JLDC's $114,855 grant for the Labyrinth's expansion plans.City Councilwoman Kim Ecklund, R-At Large, said that like other council members, she had a chance to tour the businesses requesting ARPA grant funding.
"I did tour this one and was very impressed with the work that was being done there," she said. "Definitely fits the mold, as does Panache, for additional employment and additional space. I think we've seen the growth at Labyrinth through the years and appreciate that and look forward to seeing that continued change."
Prior to approving the Labyrinth's grant application, Russell commended the business for continuing to take chances ever since the "very first opening" to grow and expand in the community. Russell said the Labyrinth has been "fruitful" as a result of taking chances and continuing to push forward.
The three grant applications approved by the City Council Monday will now be able to receive funding along with the other Business Expansion and Building Acquisition applicants that were approved last month by the JLDC board.