EDC board approves four Downtown Building Grant applications

At its regular meeting Tuesday, November 14, the Chickasha Economic Development Council Board of Directors approved four applications for the Downtown Building Grant. The applications will be forwarded to the Chickasha City Council for final approval.

The buildings approved were 301 W Chickasha, for applicant GPP, LLC; 409-411 W Chickasha, for applicant Alora Real Estate; 102 W Chickasha and 105 W Chickasha, for applicant Oh Hitt Corp. The board also considered but did not approve an application for 117 N 2nd.

If approved by the city council, the applicants will be reimbursed $1 for each $3 of private funds invested in building improvements, up to a new cap of $25 per square foot.

Update – Dec. 21: On December 18, the Chickasha City Council approved each of the four applications forwarded by the EDC.

At the meeting, EDC Director Jim Cowan clarified that this was only the first step in the process. The vote was only to certify that the applicant was eligible. After the applicant has completed the building improvements, the EDC Board and City Council will vote again concerning the actual disbursement of grant funds.