Schoharie Receives $200,000 For Main St. Revitalization Loans

May 14, 2007
Assemblyman Pete Lopez (R,C,I – Schoharie) is pleased to announce that the Village of Schoharie has launched a $200,000 micro-enterprise loan program which will be used to provide loans for business owners on Main Street and throughout the Village of Schoharie.

“I’m excited about this effort,” said Lopez. “We’re doing everything we can to help stimulate the local economy.”

Loan applications are currently being accepted at the Schoharie Village Office (518-295-8500). In order to qualify, applicants must plan to utilize the funding to improve or create a business that will employ low- to moderate-income employees. The size of the loan is based on the number of jobs that will be created, at a maximum of $25,000 per job and up to $75,000 per business.

“Main Street is the economic and historic core of Schoharie, and reflects the sense of pride and community of all of our residents,” said John Borst, Mayor of Schoharie. “This Small Cities grant is a great opportunity to help strengthen existing businesses and provide incentives for new businesses to help restore the economic vitality of downtown.”

The program is being administered by a newly formed Local Development Corporation, which is comprised of members appointed by the village including Wanda King, Richard Young, Eugene Amedio and Richard Ball.

Ed August, Schoharie Village Trustee and Chair of the Sub-Committee instrumental in securing the Small Cities grant said, “The Small Cities micro-enterprise grant is a new initiative for our business center members to expand an existing business or to create a new business. I sincerely hope businesses will seize this opportunity.”

Local officials and residents are very excited about the program and its potential to stimulate the downtown economy of the village of Schoharie. According to Steven Kirk, owner of DBS Planning Consultants, there has been an exceptional response to the program, and loans should be approved and provided in the near future.

“The Schoharie micro-enterprise program serves as an excellent example of the success that can be achieved through partnerships between private enterprise and local, county and State government,” Kirk said. “Clearly, local business owners have responded to government action to bring about Main Street revitalization and long term economic prosperity for the Village and the region.”

“This is a great opportunity for local business owners to improve or expand their operations,” Lopez said. “Working together, we can strengthen our community.”