East Liverpool CIC Considers Loan Request for Two New Businesses
EAST LIVERPOOL, Ohio — A Boardman business owner is asking the city’s Community Improvement Corporation to consider a $40,000 loan which will enable him to open two new shops in the historic downtown Devon’s Diamond area.
During a meeting Wednesday, the CIC’s property committee heard a proposal from Shaun DaVill, owner of DaVill Enterprises, which currently operates N2 by DaVill in Boardman and The Loft @ N2 by DaVill in Salem, which serves ice cream and milkshakes made with liquid nitrogen, as well as custom-baked goods.
DaVill looks to takeover the former Curtis Cigar and TV Facts storefronts to open two new businesses: a second The Loft location and Quench by DaVill, a coffee and soda bar selling nitro coffee infused with liquid nitrogen, which he said is the upcoming trend in coffee. Both locations will have seating and free internet for customers to gather, work and study in an environment DaVill said is not currently seen in the area.
The new enterprise would employ about six at the two locations, with wages in the $10-15 per hour range, adding to DaVill Enterprises’ current 12 employees.
The company has a “very loyal customer base,” DaVill said.
“We are very active in the community and employ people with special needs as well as raise money and awareness for various charities,” he said. DaVill was recently recognized by WKBN-TV 27 as a “Hometown Hero” for his charitable efforts.
The $40,000 loan would be used for the purchase of equipment, plumbing and signage at the two storefront locations, and DaVill said he is investing $60,000 of his own funds in the project.
Saying he has never sought loan funding before, DaVill told the committee, “I have money; I just want to be safe.” He said he had not expected to open a business in East Liverpool but then the idea was broached to him by someone.
Mayor Greg Bricker encouraged the committee, saying the two shops are “exactly what we need downtown,” and would be a “huge addition” to the downtown area.
With Executive Director Bill Cowan making the motion, the committee agreed to forward a recommendation to the full CIC board to loan DaVill $40,000 at 3% interest over five years, with the proper collateral in place. He was amenable to putting up the new equipment he plans to purchase, as well as other equipment he has in storage, as collateral.
If the loan is approved, he anticipates having the businesses up and running by Halloween.
In other matters, the committee took under advisement for further review a $90,000 loan request from Christopher Morey, owner of Rotating Equipment Services, located in the former Wallover Oil Co. on Pennsylvania Avenue. The company moved from Mahoning County into East Liverpool and is a pump repair facility whose primary customers are in the gas, oil, water and wastewater fields. It also operates a machine fabrication plant.
Morey, who also recently opened the retail shop Needless Things downtown, is requesting the loan for four months to pay off a piece of equipment as well as bringing on another employee.
His financial portfolio was questioned at length by member Al Fricano, who asked his personal net worth, which Morey estimated at more than $2 million. He also pointed out he owns the Executive Motors building on Parkway.
Currently, he advised, the company has about 60 projects, or about $400,000 worth of pending work on the floor.
The committee agreed to revisit the request after further investigation, possibly at the next full board meeting set for Sept. 15.
Also forwarded to the full board was a recommendation to accept transfer of the former East Junior High School on Maryland Avenue from the city’s ownership to the CIC’s, with CIC President Pat Scafide saying the law director is currently preparing the deed.
Scafide reported environmental tests, including for asbestos, will be conducted on the building and grounds by Tetra Tech, which will use Brownfield funding for the tests and demolition of the former school building at no cost to the city or CIC. The Ohio Environmental Protection Agency has approved the plan, which is being reviewed by the federal EPA, according to Scafide.
“It’s not safe; it needs to come down,” he said of the school, which was traded to the city several years ago by the school district for property on Pope Street.
Once the demolition is complete, the six acres of property will be marketed for development, with Scafide pointing out it would be perfect for a plaza.
Pictured: These two empty storefronts in the Little Building on Sixth Street in East Liverpool could soon house an ice cream shop and coffee/soda shop as proposed Wednesday to the Community Improvement Corporation by Shaun DaVill.
Copyright 2024 The Business Journal, Youngstown, Ohio.
