Six businesses in Covington have received financial help thanks to the city’s Small Business Program.
At a meeting last week, the commission voted to approve public incentives for six small businesses throughout the city. Specifically, the program sets aside money to help businesses pay rent and help property owners restore the exteriors of their building.
“We have one facade project, four rent subsidies, and one historic sign grant, which is pretty exciting,” Covington Business Retention Manager Patrick Duffy said.
The program sets aside $150,000 to distribute throughout the current fiscal year. Covington doles out small business incentives each quarter of the fiscal year. So far, the city has approved fourteen small business incentives throughout the current fiscal year.
“We have project’s that span from Lewisburg to Latonia and a few spots in between,” Duffy said.
Rent Subsidy
Covington’s rent subsidy incentive is designed to attract new businesses and help existing businesses expand. It offers financial assistance in the form of reimbursement of rent payments for up to half of the business’ monthly rent.
Scout Yonder, LLC is a digital marketing firm for e-commerce.
- $6,000 to Scout Yonder located at 814 Madison Ave.
- Neighborhood: Central Business District.
- Estimated new payroll: $400,000.
Zels Pretzels is a Point/Arc subsidiary that provides vocational and social training for people with disabilities. Zels Pretzels is one of the Point/Arc’s enterprise projects that specializes in making pretzels.
- $6,000 to Zels Pretzels at 3622 Decorsey Ave.
- Neighborhood: Latonia.
Commissioner Tim Downing praised the efforts of the Zel’s Pretzels.
“That’s fantastic,” he said.
Safewave Technology offers smartwatch bands with Bluetooth sensors that connect to security devices such as smoke detectors, fire alarms and Ring doorbells. The bands are tailored to people in the deaf and hard-of-hearing community.
- $6,000 to Safewave Technology at 2 W. Pike St.
- Neighborhood: Central Business District.
- Minority/veteran-owned business.
Beech Native, LLC, dba Live Forever Die Whenever is an outlaw, country-western themed retail shop that specializes in selling new and vintage t-shirts.
- $6,000 to dba Live Forever Die Whenever at 1008 Lee St.
- Neighborhood: Westside.
Facade Improvement
Covington’s façade improvement incentive offers commercial property owners a 50 percent matching forgivable loan of up to $6,000 to update their commercial building’s façade. This helps property owners update lighting, windows, painting, signage, and other exterior building improvements visible from the street
THIRTY9 Property, LLC
The developer is looking to beautify the exterior of the building. The owner is set to replace the garage door, windows, doors and light fixtures. The project is anticipated to cost $12,613.25.
- $6,000 to THIRTY9 Property located at 409 Lehmer St.
- Neighborhood: Westside.
Historic Sign Restoration
Covington’s electric signage restoration program will offer forgivable loans to qualified applicants focused on the refurbishment of rundown electric signs in commercial areas. 75% of the total restoration cost would be funded by the city and 25% by the building or business owner. The maximum amount the city can contribute for the forgivable loan would be $7,500.
Fessler Properties
Fessler Properties is the owner of Herb & Thelma’s Tavern. The money will be used to restored an old Wiedmann Fine Beer sign which will eventually be displayed in the establishment located on Pike Steet. In total, the project is expected to cost $10,550.
- $7,500 to Fessler Properties for the restoration of a sign.