The Oswego Village Board recently approved grants for the owner of two properties on West Washington Street in the village’s downtown business district.
DTG Investments, LLC was granted an estimated $63,000 in economic development incentive awards for the properties at 8 W. Washington and 12 W. Washington streets.
The owner has proposed to make substantial improvements to the two sites in anticipation of leasing space to new commercial tenants, Oswego Economic Development Director Kevin Leighty said in a report to trustees.
The 8 W. Washington St. property has a vacant 1,000-square-foot building on it. A roofing company once occupied the space two years ago. Previous tenants of the building were a thrift shop, home improvement company, insurance agent’s office and a fitness studio, Leighty said.
DGT Investments purchased the property last November, he said. The owner was seeking a grant of $32,800 for the renovations there.
“Grant funding is being requested to help offset the high construction and labor costs that exist in the current market,” Leighty said.
The owner is proposing to replace and install new exterior windows and doors, siding, gutters, soffits and downspouts on the building. The owner is also proposing to pave an existing gravel parking area as well.
The value of the building improvements at 8 W. Washington is estimated at approximately $67,000.
Trustee Karen Novy questioned whether the village’s program has any regulations on how many times a person can get an award in a year.
“The program does not restrict recipients. It’s based on per project,” Leighty said.
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“It’s something we may want to look at,” Novy said. “I feel as though we are limiting ourselves.”
Leighty confirmed DGT was approved for funds last year as well.
DTG Investments, LLC was also awarded $30,327 for the property at 12 W. Washington St. which is next door. The building on the site is comprised of 2,000 square feet of mixed-use commercial and residential space. The second-floor residential unit is occupied, but the commercial unit on the main floor has been vacant for years, Leighty told trustees. Previous tenants included a candy store and a crystal reader.
The owner is proposing to replace and install new siding, gutters, soffits and downspouts, plus construct a new deck area at the entrance of the building for a total project cost of nearly $61,000.
Trustees unanimously approved both grants.
Linda Girardi is a freelance reporter for The Beacon-News.