MEDC OKs $390,000 loan for development of new facility on brownfield
The business group building a new small animal hospital on Milwaukee’s east side have received a financial boost. The Milwaukee Economic Development Corp. (MEDC) recently approved a $390,000 loan for the project.
Veterinarians Pamela Geiken and Diane Bennetts are having the 6,200-square-foot hospital built at 2342 N. Newhall Ave. to replace their current animal hospital at 2163 N. Farwell Ave.
The new hospital will occupy the entire building and give the veterinarians more room than the Farwell Avenue site.
Scherrer Construction is putting up the hospital on a site of the former Milwaukee Waste Paper garage and processing facility. The property was abandoned after the paper company operated there for more than 60 years.
A property remediation uncovered foundry ash and solvents from a former adjacent dry cleaning operation. Additionally, the remaining structure had asbestos.
A number of government agencies have helped make the building project feasible. The state Department of Natural Resources provided a site assessment grant of $29,900. The state Department of Commerce provided a Brownfields Grant of $95,000 and a PECFA loan of $15,000. The MEDC also provided an $8,200 site assessment grant while a $40,000 brownfield grant has been requested from Milwaukee County.
The $390,000 loan for the building project will be made to ESV, LLC, for the Small Animal Hospital, LLC. US Bank is also participating in the project, which has a total cost of $1,381,100.
Other loans
In other action at its Aug. 4 loan committee meeting, the MEDC approved a $72,000 loan for Umoja, LLC, for the Subway Restaurant at 2244 N. Dr. Martin Luther King Jr. Dr. in Milwaukee.
Walter A. Buckman is the majority owner of the franchised Subway and will lease approximately 1,900 square feet of space for the restaurant.
The MEDC loan will be used for leasehold improvements, equipment purchase and working capital.
State Financial Bank is also participating in the $180,000 project.
Anton and Teri Scorsone received a $120,000 MEDC loan for their Scorsone Automotive Inc. business at 7200 W. Good Hope Rd. in Milwaukee.
The Scorsones will use the funds to help finance purchase of a 4,400-square-foot building at the Good Hope Road location. The facility is larger than the one the business now operates from.
They will then move their business to the site from its current location at 12730 W. Capitol Dr. in Brookfield.
The business handles auto and truck repair and maintenance.
Milwaukee Western Bank is also helping to finance the $300,000 project.
Wrought Washer Mfg. Inc. received a $375,000 MEDC loan to help it consolidate from two locations to one.
The funds will be used to improve efficiencies at its Milwaukee site, at 2100 S. Bay St., to accommodate additional machinery and to pay for equipment relocation costs from its Pleasant Prairie facility in Kenosha County.
Wrought Washer started at the Bay Street site more than 100 years ago. It added the Pleasant Prairie site in about 1990. With excess capacity, the company is now consolidating.
About 25 jobs will be brought to the Milwaukee location.
Wrought Washer supplies flat and formed washers and is the largest domestic manufacturer of steel washers and related metal stampings.
Fleet Capital Corp. is also participating in financing of the $750,000 Wrought Washer consolidation.
HH&H Printing, doing business as SyNet Media in Milwaukee, received a $338,000 MEDC loan to help start up its operation. The company will purchase a Heidelberg NexPresss printer as well as most of the assets of Stark Images in Milwaukee.
SyNet, at 1319 N. Dr. Martin Luther King Jr. Dr., will focus on short-run and variable data color printing, specializing in interactive marketing.
Carlin Sales Corp. received a $918,000 Small Business Administration 504 loan through MEDC, for purchase of a 75,195-square-foot building on 6.4 acres at 8170 N. Granville Woods Rd. in Milwaukee.
The company is a distributor of nursery and garden supply items.
Ozaukee Bank is also helping finance the $2.3 million project.
