GOOD EVENING. I’M VICKI DORTCH. BUSINESSES IN DOWNTOWN NEW ALBANY SAY THEY’RE STRUGGLING TO STAY OPEN. AND TONIGHT, BUSINESS OWNERS FOUND OUT THE FUNDING THEY WERE COUNTING ON TO KEEP THEIR DOORS OPEN. IT’S NOT AN OPTION. WLKY. JAMIE MAYES IS LIVE FROM DOWNTOWN NEW ALBANY. DISAPPEAR. ANY NEWS FOR THOSE BUSINESS OWNERS? JAMIE. THAT’S RIGHT, VICKI. SHOPS AND BUSINESSES HAVE BEEN DEALING WITH THIS CONSTRUCTION FOR MONTHS AND OWNERS TELL ME IT’S BEEN HURTING PROFITS. THEY WERE HOPING FOR FUNDING FROM THE CITY, BUT THEY’RE FINDING OUT THAT IT MAY TAKE LONGER THAN EXPECTED TO GET HELP. FRUSTRATED NEW ALBANY BUSINESS OWNERS SAY THIS CONSTRUCTION DOWNTOWN HAS MADE IT DIFFICULT TO GET CUSTOMERS THROUGH THEIR DOORS. THE MOST CHALLENGE THAT WE HAVE IS THE PARKING THAT YOU CAN’T EVEN GET TO MY SHOP UNLESS YOU GO THROUGH A PARKING LOT. STEVIE CARVER, THE OWNER OF THE NEW ALBANY SUGAR SHOP, SAYS HER PROFITS HAVE SIGNIFICANTLY DROPPED SINCE THESE ROADBLOCKS WERE PUT IN PLACE AS PART OF THE MAIN STREET REVITALIZATION PROJECT. ANY TYPE OF FINANCIAL ASSISTANCE RIGHT NOW WOULD BE GREATLY APPRECIATED BY ALL OF US JUST TO HELP US COVER OUR RENT AND OUR BILLS, BECAUSE WE’RE NOT MAKING IT. IT’S HARD TO GET PEOPLE TO COME IN WHEN THERE’S ROAD CONSTRUCTION, A RESOLUTION WAS INTRODUCED BY A CITY COUNCIL MEMBER TO USE AT LEAST $500,000 OF AMERICAN RESCUE PLAN FUNDING TO HELP DOWNTOWN BUSINESSES IMPACTED BY THE PROJECT. BUT JASON APPLEGATE WITH THE NEW ALBANY CITY COUNCIL SAYS AFTER TALKING TO AN ATTORNEY, THEY FOUND OUT THE MONEY COULD NOT BE USED FOR THAT PURPOSE. THEIR OPINION WAS THAT YOU COULD NOT USE ARPA FUNDS FOR THIS EXACT CIRCUMSTANCE. IT WAS NOT COVID RELATED. BUT APPLEGATE SAYS THEY ARE WORKING ON SOLUTIONS. WE HAVE BEEN LOOKING AT ALTERNATIVE MEASURES AS TO WHERE WE WOULD BE ABLE TO DO SOMETHING AND AND LOOKING AT THAT PLAN. WE’VE BEEN WORKING ON IT FOR ABOUT THREE WEEKS AND WE’RE GETTING VERY CLOSE. WE JUST WE’VE GOT A FEW MORE PIECES THAT NEED TO COME INTO PLAY. CARPER AND OTHER DOWNTOWN BUSINESSES ARE HOPING RELIEF COMES SOON. I DON’T THINK I’M GOING TO BE ABLE TO MAKE IT TO HARVEST IF WE DON’T GET SOME FUNDING. NOW, ALSO, DURING TONIGHT’S MEETING, COUNCIL MEMBERS AGREE TO MOVE FORWARD WITH PLANS TO BUILD A NEW POLICE DEPARTMENT HEADQUARTERS.
Interest-free loans to be available for New Albany businesses affected by downtown construction
Updated: 5:56 PM EST Jan 27, 2023
Help is on the way for downtown New Albany businesses struggling because of the ongoing construction.Applications for the program open up on Monday for no-interest loans through the New Albany Central Business District loan program.Watch our previous coverage of the businesses impacted in the player aboveAdministered by One Southern Indiana, the president says it’s in light of two construction projects impacting business, including the Main Street Revitalization project.Businesses must meet the requirements of operating out of a brick-and-mortar location within the Central Business District and are either in-person retail, restaurant or bar, or personal services establishment. Another requirement is having 50 or fewer full-time employees and have been in business for at least two years.The interest-free loan is up to $25,000.”We’re excited to be able to offer something even if it’s a small amount to help, and hopefully, these businesses will weather this storm and be stronger in the future,” said president and CEO of One Southern Indiana Wendy Dant Chesser.Applications will be accepted starting on Monday through Feb. 10.Businesses that are interested in applying can request an eligibility form from Mike Fulkerson at MikeF@1si.org.
Help is on the way for downtown New Albany businesses struggling because of the ongoing construction.
Applications for the program open up on Monday for no-interest loans through the New Albany Central Business District loan program.
Watch our previous coverage of the businesses impacted in the player above
Administered by One Southern Indiana, the president says it’s in light of two construction projects impacting business, including the Main Street Revitalization project.
Businesses must meet the requirements of operating out of a brick-and-mortar location within the Central Business District and are either in-person retail, restaurant or bar, or personal services establishment. Another requirement is having 50 or fewer full-time employees and have been in business for at least two years.
The interest-free loan is up to $25,000.
“We’re excited to be able to offer something even if it’s a small amount to help, and hopefully, these businesses will weather this storm and be stronger in the future,” said president and CEO of One Southern Indiana Wendy Dant Chesser.
Applications will be accepted starting on Monday through Feb. 10.
Businesses that are interested in applying can request an eligibility form from Mike Fulkerson at MikeF@1si.org.