Superior’s City Council approved the first round of grants designed to help small businesses develop and grow.
The Small Business Grant Program was created in August to provide small businesses grants for up to 15% of total startup or project costs, capped at $50,000 per business. In exchange for the grant, business owners must enter into a development agreement with the city.
“Putting (up to) $50,000 back in the pockets of small businesses I think is awesome,” Councilor Craig Sutherland said.
The first round of grants will benefit KD’s Itasca Bay Family Restaurant in Itasca, the Korner Store in Allouez and Scott Wallin CPA CS in East End.
The largest grant supports KD Family Restaurants' recent expansion into the Itasca neighborhood in Superior.
KD’s Family Restaurants, which employs 15 full-time and 20 part-time staff, purchased the former Breakwater Restaurant at 4927 E. Second St. in Superior.
The $47,213 grant with help with acquisition costs, environmental investigation, painting of the building and a new sign with total project costs of $314,757, according to Jason Serck, economic development, port and planning director.
Derek Medved, owner of the Korner Store, 3892 E. Second St., plans to use the $2,511 grant awarded toward the $16,742 cost of replacing two rooftop heating, ventilation and air conditioning units on the building. Medved employs nine people.
The final grant, $1,329, awarded Tuesday, Nov. 5, will go toward an $8,864 project to replace the front door at Scott Wallin CPA CS, 2221 E. Fifth St. The firm employs five full-time and two part-time staff.
The annual allocation to the Small Business Grant program is 50% of the annual allocation to the city’s economic development fund.
After going through the first round of grants, Serck said the Plan Commission may make some minor changes to the program.
“We’re going to fix the minutia,” Mayor Jim Paine said.