The Olde Pickerington Village is the heart of the City, and eight businesses there were recently infused with $67,000 in Community Development Block Grants (CDBG) from the state to invigorate the commercial health of the historic district.
The grants, which have been used as part of the Downtown Revitalization project, were distributed from a loan fund that has been in existence since 1999.
In previous years, businesses in the Olde Village were required to match their funding requests to “spur economic development activity in the Olde Village,” said City of Pickerington Development Services Specialist Megan Wainright.
This year, businesses and property owners in the Olde Village did not have that restriction in order to receive funding. Wainright said the purpose behind the grants is to encourage all commercial property owners in the Olde Village to participate.
“It is important to Pickerington because the grants help stimulate commercial investment and spur economic development,” Wainright said. “The grants also increase the business interest in Olde Pickerington and create a beautiful village that everyone can be proud of.”
The grants this year are being used for exterior improvements, building code updates and improvements, public infrastructure improvements, and expansion of existing or new businesses in the Olde Village.
To be eligible for funds ranging from $1,000 to $10,000, property owners completed an Olde Pickerington Village Development Grant Application and a Vendor Information form, and provided the City Development Services Department with three quotes for the proposed work by Feb. 5.
Evaluations of the applications included a review of each project’s potential to add new jobs and to create a new business or expand an existing one, and whether or not the property owner received matching funds in the past.
The City hopes more businesses in the Olde Village will pursue this initiative in the future because it strengthens the economic health of a vital City, Wainright said. The grant is a one-time program, as we will be granting out the full amount.
