The Jamestown Local Development Corporation will assist a downtown business with their roof renovation project.
The group met recently to discuss the loan application from Dorian's Plus Inc., 308 N. Main St., Jamestown. The business applied for a $21,000 loan to assist paying for roof renovations, which will cost $28,000. The owners, Deborah Gullo and Kandis Lombardo, will pay the other $7,000 for the project.
The $21,000 loan will have a 4.5 percent interest rate. The loan is to be paid back during the next five years. The money will come from the development corporation's Citywide Commercial/Industrial Energy Conservation Loan Program.
Dorian’s Plus styling salon, 308 N. Main St., Jamestown, has received a $21,000 loan from the Jamestown Local Development Corporation for roof renovations.
P-J photo by Dennis Phillips
The program assists businesses with energy efficiency improvements including heating, ventilation and air conditioning systems; windows; doors; roofs; insulation; and for district heating hook-up to the Jamestown Board of Public Utilities. The applicant has to pay 75 percent of the total project costs. The maximum loan can be for $40,000.
Jamestown Mayor Sam Teresi said the intent of the program is to help businesses save energy. Vince DeJoy, city development director, said the project meets the objectives of the loan program. He said as collateral, the Jamestown Local Development Corporation will be in the first position on the business' mortgage.
"It has been a very good and stable business," DeJoy said about Dorian's Plus.
The business has one full-time employee and six part-time employees. Gullo, a Dorian's Plus co-owner who attended the meeting, said her parents, Doris and Sam Paladino, started the business in 1947.