Local News
County considering funding guidelines
Three businesses have requested assistance with start-up funds
Within the past six months, Howard County officials have been approached about providing a portion of the start-up funds for three new businesses.
Now, officials are considering what steps it should take, including establishing guidelines and forming an advisory committee, to determine for how funds should be distributed.
During the 2010 budget hearings, the commissioners requested $100,000 be appropriated from the county’s share of Economic Development Income Tax revenues to assist businesses.
The Howard County Council removed the appropriation from the proposed budget, stating it would consider requests on a case-by-case basis.
Last August, the county provided $50,000 to bring Zuna Infotech to Kokomo. Those funds were directly tied to the number of jobs created. The city provided $150,000. The company is expected to create 150 jobs by 2012.
The commissioners have been asked to provide $5,000 in EDIT funds for Angie Meyers Design Studio to locate her business on the Courthouse square. Kokomo is providing a $15,000 low-interest loan through the Emerging Business Loan Fund.
On Monday, Kim Morgan requested $5,000 from the commissioners to open Da Roux House Kitchen and Lounge on West Sycamore Street, possibly by March or April.
Morgan said an application has been submitted with the Kokomo Development Department to obtain a liquor license through the Riverfront District, which was created last year.
Commissioner Tyler Moore said Morgan asked for financial support to start the restaurant that will feature Cajun cuisine.
“We need to establish some preliminary guidelines,” Moore said. “There are issues concerning EDIT. Should the funds be provided as a loan or grant?”
Moore said the county is considering forming an advisory group to make recommendations on funding requests.
“We may use resources of Kokomo or [Greater Kokomo Economic Development Alliance],” he said. “We need to make some decisions by our next meeting [Feb. 15] to present to the county council.”
Howard County Attorney Larry Murrell said the county is interested in providing assistance, but a structure needs to be put together.
With the Zuna project, the county worked through GKEDA, he said.
“We don’t have a revolving loan fund,” Murrell said. “The county needs to put together some procedures to distribute the money.”
Murrell said the commissioners are considering the establishment of an advisory group to work on the procedures.
• Ken de la Bastide is the Kokomo Tribune enterprise editor. He can be reached at 765-454-8580 or via e-mail at ken.delabastide@kokomotribune.com
- Local News
-
-
Jefferson Manner exec fired amid drug charge
The executive director of a Kokomo retirement community was fired Wednesday after being accused by police of using and selling methamphetamine.
- Shots fired near Walnut and McCann streets Police are looking for several men in a green car that fled the area of Walnut and McCann streets Thursday afternoon after several shots were fired.
-
NIPSCO plans to absorb Kokomo Gas
A northern Indiana-based gas and electricity provider announced today it intends to absorb Kokomo Gas and Fuel.
-
U.S. 31 work to begin on Tuesday
Heavy-duty equipment is in place along Business 31 in Miami County, but it won’t be used until Tuesday.
-
Kokomo City Line service starting Tuesday
Tracy Nelson said she’s sick of paying close to $40 every week to fill up the gas tank of her car.
-
More help needed for Day of Caring
Forget Uncle Sam for a moment — Cheryl Graham wants you.
-
Mayor urges action on emergency dispatch merger
Kokomo Mayor Greg Goodnight was brief Wednesday when asked to assess the county’s progress on a proposed emergency dispatch consolidation.
-
Yates gets 165 years in prison in Rethlake murder
Even though Michael Yates was not one of the shooters in the April 5, 2008, double shooting that killed Abby Rethlake and injured her friend Morgan Vetter, he was sentenced the same as if he had pulled the trigger.
-
State rethinks plan for Ind. 22
Hold the phones, the state of Indiana won’t be yanking the traffic signal at Apperson Way and Markland Avenue after all.
-
In-car cameras an integral part of policing
Anyone who has ever watched “COPS” or saw last week’s incredible video of the Ohio teen launching his Camaro into a concrete bridge column understands the power of police video technology.
- More Local News Headlines
-
Jefferson Manner exec fired amid drug charge
