Buckeye City Council on June 18 allocated $53,000 in Economic Development Catalyst Program funds to HFFV Investments and Flat Tortilla for the improvement of two Monroe Avenue buildings.
The redevelopment program has been in operation for a decade with a goal of renovating buildings to attract private investors. Applicants request up to $50,000 with a 25% match on the first $25,000 and 50% match on the second $25,000. According to the city council agenda, the goal of the program is to support business owners and bring investors to Buckeye.
“Ideal projects include those that focus on an economic development purpose and serve a public benefit,” the agenda reads.
The project was presented by Economic Development Project Manager Tennille Hiller at the council meeting. The selection of the awardees was made by a committee of people from city staff, the Mainstreet Coalition and the Buckeye Valley Chamber of Commerce. This is the second round of grants given through the program this fiscal year. Grantees earlier this year were Iglesia Evangelica Cristiana Espiritual, Argentos, Southwest ChiroMed and Parker Fasteners.
In her presentation at last week's council meeting, Hiller said the program has invested more than $949,000 in businesses and brought in more than $1.7 million in private investments to 42 businesses that have completed 51 projects. This is a two-to-one return on investment, she said, with every $1 awarded by the city returning in $2 of new investment.
“I recently acquired the building and I have big plans for the building,” writes applicant Francisco Sandoval. “Buckeye is a growing city with so much potential. The downfall is having an old, run-down building. I would like to fix the outside of the building with this grant money. The building needs new stucco, paint, windows, doors, parking lot, lighting and walking. The inside of the building, I am working on them with my own money currently.”
“The overall goal is to improve the 301 Monroe building to support future occupancy, thus helping to revitalize downtown Buckeye,” Fairy Eng wrote in the application. “This plan includes beautifying exterior paint to help match surrounding buildings.”
Another round of Economic Development Catalyst Program grants is anticipated to be issued in August, Hiller said.
