–by Jerry Arkebauer
PUBLICATION DATE: Nov 19, 2019
J&G’s, Kevin Charles Hair Salon, Upside Brewing and four apartments in the building at Main Street and Maplewood Avenue have a new roof over their heads thanks in part to a low interest loan from the Sylvania Area Community Improvement Corp., according to Steve Leamy, chair of the SACIC loan committee.
The SACIC loaned Yee Properties, owner of the building, $37,733.41 for a term of five years at two percent interest to pay most of the cost of a new roof on the building.
Leamy stated, “Deborah and Damon Yee have been great partners for downtown Sylvania and the businesses in the building are major assets.” He noted that the Yees permit use of their parking lot south of the building not only for the businesses in their building but for many community activities.
SACIC loaned Yee Properties $20,000 in 2016 to assist in repaving the parking lot.
SACIC has been helping businesses wishing to expand or locate or stay in Sylvania Township and the city of Sylvania by making low interest loans. Other recipients of loans in recent years have been KEI Realty, owner of the Kripke Enterprises facility at Centennial Road and Central Avenue, for exterior landscaping; Highland Meadows Golf Club for improvements to its driving range; Midwest Security Products for a major expansion of the facility; and Inside the Five for improvements to the downtown Sylvania brewery and restaurant.
SACIC encourages other organizations to see the loan application on the SACIC website at sylvaniaareacic.org. SACIC is a non-profit organization representing a collaboration of business and government working to enhance balanced economic growth and the quality of life in the Greater Sylvania area.