HomeMy WebLinkAbout2023-52Resolution 2023-52
Authorizing the Town Manager to Sign and Submit Documents for the Industrial
Revitalization Fund (IRF)/ Mixed Use on Main Street (MUMS) Proposal
WHEREAS, investment in the Downtown Historic District is critical to the Town's
future; and,
WHEREAS Peak Creek Partners LLC has and will continue to invest in its properties on
West Main. St. but needs additional financial resources to support the redevelopment of
67, 69, and 73 West Main; and,
WHEREAS, this is a project that is a direct result of previous investments in the
Downtown; and
WHEREAS, this project furthers the goals of the community economic development
plan for the area; and
WHEREAS, a minimum of One Million Nine Hundred Thousand Dollars ($1,900,000)
will be expended on construction of this project, which is projected to result in a
minimum of 4 full-time and 6 part-time positions, as well as providing needed market
rate housing options for area workforce, and an increase in local and state tax revenues
associated with both the retail operations in the building and other nearby retail
operations frequented by the residents of this building,
NOW, THEREFORE be it RESOLVED that, The Town of Pulaski, Virginia, wishes to
apply for up to $700,000 of Industrial Revitalization Fund (IRF) and/or Mixed Use on
Main Street (MUMS) for the Peak Creek Mixed -Use Rehabilitation Project at 67-73 West
Main Street in the Town of Pulaski to create a Restaurant Space, Coffee Space, Retail
Space and 8 Market Rate Apartments that will serve as a central dining and residential
destination in support of ongoing revitalization efforts.
THEREFORE, be it FURTHER RESOLVED that Darlene Burcham, Town Manager,
is hereby authorized to sign and submit appropriate documents for the submittal of this
Industrial Revitalization Fund proposal.
Gregory C. East- Aye
James A. Radcliffe- Aye
Jeremy L. Clark- Aye
G. Tyler Clontz- Aye
Brooks R. Dawson- Aye
Michael P. Reis- Aye
TOWN OF PULASKI, VIRGINIA
W. Shannon Collins
Mayor
ATTEST N
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Olivia C. Hale
Clerk of Council