Local News
Thursday, November 05, 2009
Economic landscape brightening in FostoriaFEATURES WRITER
Fostoria City Council took steps to improve the city's economic landscape at its Wednesday meeting, approving several loans and replacing a taxicab ordinance.
Council approved a $200,000 loan from the Revolving Loan Fund to Roppe Corporation, in addition to the previous $300,000 loan, adding to the funds awarded to the company by the Ohio Department of Development earlier this week.
The purpose of the loan is to retain more than 300 local jobs, with the addition of 33 new jobs and the loan is made over a period of 10 years at an interest rate of 2 percent annually.
State Senator Karen Gillmor (R- Tiffin) announced Tuesday ODD awarded Roppe a $1.3 million loan for renovations and expansion at its facility and the purchase of new machinery and equipment. The money was approved by the state Controlling Board Monday.
Roppe, one of the largest suppliers of rubber wall base flooring, is embarking on a $4.6 million project to renovate and expand its Fostoria facility and to acquire new machinery and equipment, Gillmor's press release states.
The new equipment will allow the company to automate many of its processes thus improving safety, increasing efficiency and enhancing the quality of its products.
The Controlling Board also approved a $25,000 Rapid Outreach Grant to Roppe to be used for the purchase of equipment such as new molds, a mix room blender, a dust collector and line automation equipment.
Council also approved another loan to Nathanael Heiser and David Heiser in the amount of $55,541 from the Revolving Loan Fund, over a period of 10 years at a 3 percent interest rate. The funds were requested through the Hancock County Regional Planning Commission.
The funds will be used for Kemosabe's Roadhouse Grill, which will open in the former Black Cat restaurant at 820 Sandusky St.
The restaurant has been in the works for more than a year and the Heisers have done a significant amount of work to bring the building up to date with the Americans with Disabilities Act and city ordinances, completely gutting the inside of the structure, Mayor John Davoli said in a previous Review Times article.
Joan Reinhard, director of the Fostoria Economic Development Corporation, said the restaurant is expected to be open by the end of the year.
In response to a taxi company which has expressed an interest in opening in the city, Council also had a second reading of an ordinance modifying chapter 735 of the codified ordinance regarding taxis.
The previous ordinance limited the fares a company could charge to $1.85 and, according to Councilman Jerry Nelson, was overly restrictive for the service to operate.
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Ph: (419) 435-6641 • Fax: (419) 435-9073
113 E. Center St. • P.O. Box 947
Fostoria, OH 44830
The Findlay Publishing Company
P.O. Box 609
Findlay, OH 45839-0609
Phone: (419) 422-5151
www.findlaypublishing.com
Please read our privacy guidelines
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