Revolving Loan Fund could pay for waterline upgrades

Legislation that would use $300,000 from Findlay's Revolving Loan Fund to pay for small waterline upgrades in the city has been introduced to council. City Council meets again in regular session at 6 p.m. on May 7 in the Findlay Municipal Building, 318 Dorney Plaza. All council meetings are open to the public and are livestreamed on the city's YouTube channel: www.youtube.com/channel/UClxvrDBBKYesYSdGMloBVFQ. The waterline project will be up for a second reading. Council's rules require three readings before a vote on legislation, unless waived. The revolving loan program typically loans funds to businesses for expansion and improvement, with the money repaid to the fund for use by other companies. Money for the fund also comes from the state of Ohio, through Community Block Development Grants. Matt Cordonnier, director of the Hancock Regional Planning Commission, said the state typically wants the fund to stay below $200,000 and has been directing the city to spend it down. With few business takers in recent years, the balance of Findlay's fund has grown to about $750,000. So when the city recently applied for an $800,000 grant to pay for the waterline upgrades, the state only awarded $500,000 and directed the city to spend down the Revolving Loan Fund by $300,000 to make up the difference. In all, the waterline project is expected to cost about $1 million, including contingency funds, with $181,600 to be spent from the city's water fund. Hohenbrink Excavating LLC, Findlay, won the contract with a low bid of $909,982. Bids were opened on April 4. There were four bidders. The state considers using the revolving loan funds to build public infrastructure meant to serve low-income residents an acceptable use of the grant dollars. In June 2020, council approved spending $100,000 from its Revolving Loan Fund to pay for construction of a waterline to service a proposed 50-unit senior living facility at Birchaven Village, 15100 Birchaven Lane. At the April 16 meeting of council, there was some debate about using the fund for infrastructure, instead of supporting businesses. Mayor Christina Muryn said the city would like to see more use of it by businesses. She said the fund is advertised through notices to local banks, online postings and press releases. Earlier this year, council approved a $120,000 loan from the fund for Beckett's Burger Bar, a Bowling Green-based restaurant opening at 1801 Broad Ave. The money was used to purchase equipment at the new location. Auditor Jim Staschiak said management and promotion of the Revolving Loan Fund is worth a closer look by city council. He said the fund is designed to reach small businesses and there would be value in better promoting it.