This month’s Solomon Valley Economic Development meeting covered several topics.
Heather Hartman, Mitchell County Economic Development Director, reported on ongoing projects including the housing rehabilitation applications and the Neighborhood Revitalization Program. Hartman said amongst the various homeowner pre-applications she has received five are for rentals which are not on the market due to condition adding that they can be rented if fixed up. Hartman also said she has four applications for demolitions with those not requiring match money.
The city on Tuesday approved the project application to be sent into the state that could fund the project with $400,000.
Hartman also reviewed statistics of the Neighborhood Revitalization Program. To date $12 million in new residential improvements have been made, $31 million in commercial projects and $2.4 million in agriculture buildings. This brings a total of around $46 million at this time of completed projects. It is anticipated they will reach the $50 million soon. Many of these projects are now reaching the point to where they are paying partial taxes on their new structures thereby expanding our tax base.
Curt Frasier also discussed the newly formed Solomon Valley Community Foundation. Frasier says the goal for the foundation is to provide long term funding for projects and programs and that the foundational campaign goal is to receive $500,000 by the end of the year. He added that businesses can be named as founding member by committing to contribute $25,000 over five years.