Hamilton’s CIC, which was created in 1966 for the purpose “to advance, encourage and promote the industrial, economic, commercial and civil development of the city of Hamilton and the area surrounding it,” would use the money primarily for Main Street area redevelopments, said City Manager Joshua Smith.
The funds would also be used to purchase “strategic property” on South C Street and Ross Avenue, said Hamilton Executive Director of External Services Tom Vanderhorst. Those properties are being considered for additional parking.
Smith said the proposed funds to the CIC, if granted, would primarily be used for Main Street area redevelopment, and roughly half would be for additional downtown parking. The city manager added that traffic on Main Street “seems to be thickening again” and the city needs to make “whatever improvements we can to keep traffic off Main Street, which in turn will impact the High Street traffic.”
“As the primary arterial through Hamilton, any small changes we can to help that I know the residents will appreciate,” he said.
Vanderhorst said the city, the CIC, and the Consortium for Ongoing Reinvestment Efforts (CORE) “seem to be looking for opportunities as they come up and the energy is showing with the ongoing progress of development.”
City Council ok’d a loan to the CIC $300,000 in early December to purchase the former Second National Bank building at 219 High Street. The Journal-News reported in December the city administration suggested possible uses for the former bank building, including, but not limited to, hotels, condominiums, and office spaces.
The most recent investment project is the CIC’s recommendation that City Council provides a $20,000 forgivable loan to Luke’s Custom Cakes. The funds would be through the Commercial Revolving Loan Fund and City Council was expected to vote Wednesday night ― after the Journal-News deadline ― on the loan, which has been supported by the city’s administration.
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