Grant aids funding of renovation
Published 7:59 pm Wednesday, September 3, 2014
One grant related to the renovation of an existing building at the Beaufort County Industrial Park is close to being closed out, while another grant related to renovations to the building housing iDX Impressions remains active.
The grant connected to the project to renovate the former Brooks Boatworks facility at the industrial park is scheduled to be closed out next week. The close-out action is part of the Washington City Council’s agenda for its meeting Monday. So far, $340,000 of the $350,000 ($320,000 from the state and $30,000 from the City of Washington) in grant funds budgeted for the project have been spent. The renovated facility is being used by Oak Ridge Metal Works, part of the Project Blue Goose activities at the industrial park approved and supported by the city and Beaufort County.
The job-creation target associated with the Oak Ridge Metal Works project has been met, according to city documents.
The $300,000 N.C. One grant from the N.C. Department of Commerce is being used for renovations the former Hamilton Beach/Proctor-Silex property at 234 Springs Road. The city and idX entered into a purchase agreement Nov. 25, 2013, concerning the land and improvements (buildings) at the site at 234 Springs Road.
According to a memorandum written by Matt Rauschenbach, the city’s chief financial officer and assistant city manager, last fall before the purchase agreement was approved, idX planned to invest $2 million in tooling and equipment upgrades at the existing facility and add 150 jobs during a three-year period.
As part of its plans, idX applied for grant funds for the expansion and jobs creation. It was awarded a $300,000 grant.
The grant expires Sept. 3, 2016, the project’s completion date.
The project is on schedule, with $1,489, 351 invested as of Aug. 25, according to a city document. Employment at the facility as a result of the grant is being monitored to make sure the grant’s conditions related to job creation are being met.