facebooktwitterRSS
- Advertisement -
  • Most Commentedmost commented up
  • Most Emailedmost emailed up
  • Popularmost popular up
- Advertisement -
 

« News Home

YOUNGSTOWN City council



Published: Thu, September 6, 2001 @ 12:00 a.m.



Youngstown City Council handled these items during a special meeting Wednesday:

Authorized the city board of control to grant a noninterest, $625,000, 18-month loan to Allegra Print and Imaging. Allegra wants to acquire Postal Mail Sort Inc. The money will come from federal funds the city has set aside for no-interest loans. The merger would preserve 50 jobs and add up to 20 new jobs over three years.

Authorized the board of control to refinance a U.S. Small Business Administration loan for Anthony's On the River. The downtown restaurant is asking SBA to stretch out a 10-year loan, given about four years ago, to 25 years to reduce monthly payments and free up working capital to strengthen the business. The city is guaranteeing $312,000 of the SBA loan. Under the new deal, the city will lend Anthony's $80,000 from a revolving loan fund, and its guarantee on the original loan will drop to under $150,000. The city also will have a stake in the building.

Authorized the board of control to pay Marucci & amp; Gaffney Excavating Co. $103,485 for emergency repair of water and sewer lines on Goleta Avenue between Tod and Bradley lanes. About 200 feet of lines collapsed in April, causing sewer backups.

Sent to a second reading an ordinance authorizing the board of control to lease the B & amp;O station to American Steel City Industrial Leasing, a leasing company owned by Bill Marsteller. He would bring the Ohio Brewing Co. from Niles to the B & amp;O. A restaurant also would open. Marsteller will put up $250,000. The city would keep whatever money isn't spent on the building if the project fails. Any money spent will be subtracted from the sale price. Jeffrey Chagnot, economic development director, said he expects an appraisal of the building to be completed this week, enabling council to give the ordinance final passage soon in a special meeting.




Comments

Use the comment form below to begin a discussion about this content.


News
Opinion
Entertainment
Sports
Marketplace
Classifieds
Records
Discussions
Community
Help
Forms
Neighbors

HomeTerms of UsePrivacy StatementAdvertiseStaff DirectoryHelp
© 2014 Vindy.com. All rights reserved. A service of The Vindicator.
107 Vindicator Square. Youngstown, OH 44503

Phone Main: 330.747.1471 • Interactive Advertising: 330.740.2955 • Classified Advertising: 330.746.6565
Sponsored Links: Vindy Wheels | Vindy Jobs | Vindy Homes | Pittsburgh International Airport