Fairhope, Alabama
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| Small business incubator plan. |
SMALL BUSINESS INCUBATOR FOR 'HATCH'
An unsuccessful effort to secure a $6.1 million federal grant two years ago to purchase and then convert most of the old K-1 building into an incubator for small technology businesses (called HATCH) got new life as the city council gave its preliminary approval to re-applying to the federal Economic Development Administration.
HATCH has been operating in the BBVA bank on Section Street (2nd floor) for several years but needs more space.
Lee Lawson of the Baldwin County Economic Development Alliance said the new $3.1 million grant should become available when disaster recovery money is approved by Congress later this year; but the application should be made ready so the city is "first in line" since competition is only within the disaster areas (Sally, Zeta).
A 20% match ($625K) will be required from the city for the grant to refurbish the 35K square foot central building as the business incubator; any extra space could be used by co-tenants Coastal Community College and USA.
Job creation in disaster affected area is the purpose of the grant, Lawson said.
AUDITORIUM AND "OUT" BUILDINGS NOT INCLUDED
The auditorium/gymnasium in the main building and four out-buildings would not be included and could be used for other purposes by the city such as performing arts or other needs, Lawson said.
A seven year "look-back" period would apply according to Lawson; after that the city could do anything it wanted with the entire property.
A resolution to apply for the grant was to be prepared for a future council meeting.
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| Lee Lawson |
Comments
Waste of space
The city can't take care of what it has now so we don't need more to maintain. Please try to clean the rec center you already own that leaks and is filthy.
There has not been much publicity about the airport finances recently . I do know it has also received grants and that the hangars charge rent and revert back to the city after twenty something years so there is a lot of future value in the physical plant. I guess the note is what is costing so much but you have some big value there. Is it possible to privatize the airport ? I could not use it but it might be very good to have an airport as the area continues to grow.
Fairhope needs to see a psychiatrist about their strange attachment to an old, sick building that is another money pit.