Stiletto Manufacturing Inc. intends to build and sell sailboats at the former Shipwreck Cargo location on South Water Street in Columbia.

Loans and grants are essential to financing the start-up, but Stiletto’s request for $100,000 in revolving loan funds from the Albemarle Commission in Hertford was denied.

The governing boards in Columbia and Tyrrell County saw the need to formalize their support for the significant economic development project, and they authorized letters to that effect.

Columbia Mayor Michael Griffin wrote to Cathy Davison, Albemarle Commission executive director, on Oct.21:

“Dear Ms. Davison:

“This letter is on behalf of Stiletto Boats and their application for funds from the Albemarle Commission Revolving Loan Fund. The Town of Columbia is supportive of their plans to establish a boat fabrication and assembly, marketing and sales, sail training school and related office and manufacturing operation in a long-vacent property on the Columbia waterfront.

“The town amended the Columbia Zoning Ordinance on June 15, 2015, to permit such water-dependent activities along the Columbia business district waterfront. The town will consider applying for grants on behalf of Stiletto Boats, which may be used for renovation and reuse of the existing building at 107 S. Water Street. The Town provides an easement across the existing boardwalk and does not object to company plans to replace the existing finger piers with piers that meet code and safety requirements.

“The Vision 20/20 Long-Range Plan addresses residential, commercial and recreational uses of the Columbia waterfront. It is the town’s goal to have a vibrant Scuppernong River waterfront with watercraft and recreational users on the river. Stiletto Boats will provide a maritime activity that has been absent for a long time.

“If you have questions or wish to discuss this 1etter, please contact me at your convenience.”

Tyrrell County letter

Leroy Spivey, chairman of the Tyrrell commissioners, wrote to Davison:

The Tyrrell County Board of Commissioners by a majority vote on October 20, 2015, expressed its support for the endeavors of representatives of Stiletto Manufacturing, Inc. to establish a boat manufacturing facility and sailing school in Tyrrell County. The Board specifically endoreses the potential for the creation of new jobs as well as the overall economic development and tax base impacts of such a project. The Board requests that you make this letter available to the Executive Committee as well as the Revolving Loan Committee as evidence of the Board’s support.

“Thank you for your assistance in this matter.”

The loan committee approved a $50,000 loan package to Stiletto, and the Albemarle Commission gave final approval on November 19.

Conversion of the building is expected to begin upon approval of a Building Renovation and Reuse grant application in early 2016.