EAST LIVERPOOL, Ohio – The Community Improvement Corporation logged more than $270,000 in loans to city businesses by the end of 2024, with only one of them behind in repayment, members learned during the organization’s annual meeting recently.

Executive Director Bill Cowan presented a list of the loans that have been issued for a variety of businesses, which total $273,245.42.

The loans include $9,836.71 made to Team Impact, owned by CIC member and city Councilman Tom Beagle, and $10,544 to Fresh on Fifth, both of which have been paid in full, according to Cowan.

The largest loan granted was $80,000 to Nikki’s Market, with all but $3,243.19 repaid to date. 

Other loans granted and the unpaid amount remaining (in parentheses) include: 

  • M&K Wine Co.: $38,000 ($26,013.54).
  • Diamond Bar & Grill: $30,000 ($25,469.57) and $30,000 ($21,304.45).
  • Sixth Street Deli: $20,000 ($15,214.40).
  • St. Clair Laundromat: $15,000 ($1,292.79).
  • Full Stop Marathon: $10,000 ($3,447.59).

All of the loans are up to date on their payments, according to Cowan, who said the CIC is having a “little bit of an issue with slow payment” of a $29,864.71 loan made to Mutts and Cutts, which was closed with $27,359.33 still owed. 

Businesses that receive loans from the CIC must be operating inside city limits. 

“We will do our best to recover [the money],” Cowan said.

Otherwise, he noted, the CIC has nearly a quarter of a million dollars in loans out in the community.

Cowan also reported on the American Rescue Plan Act-funded facade improvement grant program the agency offered, providing $179,380.64 in 2024 for improvements to eight properties.

Cowan said the facade program has ended, with all projects completed. 

“We were really good stewards of that money. There were some really good projects completed with this,” he told members.

In his report on CIC checking account balances, Cowan said $681.92 remains in the facade improvement checking account and $48.80 in the Thompson Building checking account, all from ARPA funding provided by the city.

“The city gave us this to be good stewards, so we need to figure out how to use it,” Cowan said.

Other checking account balances he reported included USDA, $35,012.49; Field of Dreams, $25,376,51; general checking, $15,265.61; and Potters Progress, $12,917.46.

Also during the meeting, new officers were unanimously approved. They are:

  • Bill Cowan, executive director.
  • Patrick Scafide, president.
  • Craig Kidd, vice president. 
  • Scott Shepherd, secretary. 

Although returned to a two-year term as a board of trustees member, Lisa Blasdel asked not to be returned as treasurer, and no other member at the meeting wanted to be appointed. The matter will be addressed at the next meeting.

Others returned for two-year terms are Dan Dietz, Connie Javens and Patrick King.

Farmers National Bank was approved as the CIC’s corporation depository, with Javens abstaining since she is a Farmers employee.

Pictured at top: In the Diamond area of downtown East Liverpool, renovation work is underway on the historic Thompson Building, located next to the Diamond Bar and Grill, which underwent a major renovation. (File photo, October 2024)