JAMESTOWN – The effort to renovate and put to use a former super market on Fluvanna Ave. has taken another step forward.
According to the Post-Journal, the Chautauqua County Industrial Development Agency Tuesday approved a $500,000 low-interest Al Tech loan for Shults Real Estate LLC. The money will be used to assist with the $1.6 million renovation of the 30,000 square-feet former Quality Markets building.
The 20-year loan is in addition to the sales and mortgage recording tax abatements for the project that the IDA approved earlier this year in May.
The space is being renovated to allow a manufacturing company to come forward and use the space. According to the Post-Journal, the company is working with JCC to receive Start-Up NY Benefits. Specific details regarding the company are not being immediately released, other than to say there is the potential to create 30 jobs for the area.
The IDA board also approved an $80,000, 10-year Al Tech loan for Jamestown Rental Properties LLC for renovations to its 405 W. Third Street facility.