E-Malt.com News article: USA, NC: Lucky City Brewing Cooperative could benefit from a $275,000 grant
A $275,000 grant may give the Lucky City Brewing Cooperative a big hand in readying its building for business, Greensboro News & Record reported on September 27.
On Sept. 12, the Reidsville City Council authorized the city to submit a formal application to the North Carolina Department of Commerce for a Community Development Block Grant to benefit the proposed microbrewery.
“This grant will essentially catapult us to opening,” said Eric Smith, cooperative president.
Economic Development Director Jeff Garstka expects the state to make a decision around November.
The funds would go towards renovating the bottom floor of 228 Gilmer St., Reidsville, the future site of Lucky City Brewing.
The grant would not support renovations on the second or third floor, the future sites of the Rockingham County Arts Council and the Theatre Guild of Rockingham County.
If the funds are granted, Lucky City would be able to begin construction and receive reimbursements for renovation costs.
The grant would not cover the cost of furniture, fixtures or equipment.
Lucky City cannot do any renovations to the building until after officials approve or deny the grant.
The $275,000 would cover about half of what the brewery needs, according to Garstka.
The grant also requires a 25 percent local match to an amount of $68,750.
“That money in this case would come not only from the money that Lucky City already has in its coffers, but also money that the city may contribute through its downtown rehab grant through the downtown corporation, as well as money that we are paying to contract with the grant writing firm,” Garstka said. “We're allowed to count that money as the local match, so we're well beyond what's required for that.”
The council approval came following public hearings on Sept. 12 and Aug. 8. The proposed recipient of the grant was not announced at the time of the first hearing.
The council voted unanimously to authorize the application with Council Members William Hairston and James Festerman absent.
28 September, 2017