The Herald, Sharon, PA Published Thursday, January 23, 2003


Loan amount raised
for business upgrades

By Sherris Moreira-Byers

Herald Staff Writer

A program to improve the landscaping around businesses and industries in Hermitage will be getting a little boost.

The "Landscaping Facade Improvement Program," which was created in June 2000 to help city business owners by lending them $10,000 to improve their grounds and commercial signs, is being bumped up to $20,000.

"We were wondering if $10,000 was not enough to make improvements," said Gary Gulla, assistant city manager. "We thought increasing the available loan amount might increase the interest in the program."

Since the program's inception, it has been used only twice -- by the Hickory VFW for its lodge and banquet center and for its golf course. "Both used the funds for signage and some associated landscaping. Both facilities wanted the same design," Gulla said.

Businesses must put up 10 percent of the project's cost. "This way they can borrow 90 percent," Gulla said. The low-interest loan can be taken out for up to five years at a fluctuating interest rate that is half the prime rate published in The Wall Street Journal.

The program was created with $100,000 from the capital budget, Gulla added.

The loan can also be used for parking-lot improvements and lighting. "Just the exterior improvements," he explained.

Hermitage commissioners upped the amount of the loan at their meeting Wednesday night.



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