AUSTINTOWN, Ohio – Real estate holding company KJ3 Ohio LLC will receive $238,900 in state assistance to help finance the purchase and renovation of the building at 5211 Mahoning Ave.

The funds were released through the Regional 166 Direct Loan Program, which promotes economic development and job creation and retention by providing low-interest loans to businesses with limited access to adequate capital from private funding sources. 

KJ3 purchased the property from Falcon Centre LTD for $695,000 on March 10, according to data filed with the Mahoning County Auditor’s office. 

The project, which has an approximate total cost of $796,538, is expected to create 43 new full-time-equivalent jobs and retain 181 existing jobs. 

KJ3 is leasing the 16,540-square-foot property to Advanced Technology Partners LLC and Mirkin & Associates Inc., which does business as Comfort Keepers. Advanced Technology Partners is an IT managed service provider that provides computer, network, data and IT solutions for small to midsize companies. Comfort Keepers assists seniors in living safely and independently at home by providing personal care, assistance with daily activities and transportation. 

Through the Regional 166 program, eligible projects include those related to industry, commerce and distribution or research activities, with loans up to $1 million. Priority may be given to eligible projects with higher wages and job creation commitments in a distressed area of the state. A special loan dollar-to-job ratio is not required.  

The program uses seven economic development agencies to underwrite and help administer the program across the state, with locations in Akron (Cascade Capital Corporation), Cambridge (Ohio Mid-Eastern Governments Association), Cincinnati (Alloy Development Co.), Columbus (Ohio Statewide Development Corporation), Lima (Anchor Financial Services), Toledo (Toledo-Lucas County Port Authority) and Youngstown (Valley Economic Development Partners).

For more information about how to apply and to find out if a project is eligible, click HERE.