Economic Growth and Innovation Newsroom
East Downtown Highlands Benefit from METCO Loans
Thursday March 26, 2009
Two buildings – one in East Downtown and one in the Highlands — will undergo major renovations, thanks to small-business loans approved today by Louisville Metro Government.
A new loan was also made today to re-open a brewery and restaurant at Louisville Slugger Field.
The board of the Louisville Metropolitan Business Development Corporation approved the loans at a meeting last week.
The loans were:
· $60,000 low-interest loan for owners Lee Wilburn and Julia Tinnell to renovate a property at 601 E. Jefferson St, formerly known as the Louisville Chemical building. The property will be renovated, including installing an elevator to make it accessible to the disabled, so it can be rented for commercial tenants. The building is located in East Downtown, across from the Liberty Green development.
· $57,300 to Mike Howard and Joseph Impellizzeri, doing business as Winter Palace LLC, to improve buildings at 1507-1511 Bardstown Road. The project includes new facades for the property and ramps for the disabled.
· $100,000 low-interest loan Paula Barmore and Anoosh Shariat to open a restaurant/brew pub at Louisville Slugger Field. The METCO board last month approved a similar loan to another person who planned to re-open the eateries at Slugger Field but that deal fell through. The new plan would create 50 jobs.
For more information about the city’s small-business loan program, visit http://www.louisvilleky.gov/economicdevelopment/METCO.htm