Council approves brewery resolution – The Southwest Times


By MELINDA WILLIAMS

[email protected]

Pulaski City Council has given its approval to request $ 600,000 in Industrial Revitalization Fund (IRF) that could pave the way for a downtown brewery.

City manager Darlene Burcham said staff learned just before the July 31 application deadline that a developer wanted to establish a brewery in the city center. The potential building will require “major construction” to accommodate the business, so it is hoped that IRF can be used to help cover this cost.

Staff had to hurry to meet the deadline, but it was met and the city got an extension to get the supporting resolution from city council. The resolution authorizing the IRF application is a requirement of the application process through the Virginia Department of Housing and Community Development (DHCD).

According to the DHCD website, IRF recipients for fiscal 2022 will be announced in late fall. Burcham said this is a competitive process, so there is no guarantee that Pulaski will receive the funds in the coming fiscal year.

The DHCD states that IRFs are awarded annually. A total of $ 1.5 million is available statewide in fiscal year 2022. The maximum amount is $ 600,000.

Fund recipients should be ready to sign a contract or performance agreement by January 1. The program requires the project to be completed within 18 months of contract execution or loan closing.

If Pulaski receives funding, it will in turn provide a loan to the person or entity seeking to open the brewery. No mention was made of the identity of the promoter or of the proposed building to contain the brewery. Burcham recently said the city was not ready to comment on the project at this time.

Only local governments and regional or local economic or industrial development authorities can apply for IRF. However, localities can apply on behalf of both profit and non-profit entities.

According to the resolution adopted by the council, “other funds will be or will have been spent on the project (of the brewery) for a total amount of nearly $ 659,324”. IRF requires that 100% match be made from private or public sources.

The resolution goes on to say “it is expected that many benefits will flow from the implementation of the project”.

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