Braselton to establish revolving loan fund for businesses

On Monday, the town council approved a resolution that establishes a revolving loan fund as part of a $500,000 state grant that Braselton recently received to renovate its Braselton Brothers Store complex.

The Georgia Department of Community Affairs (DCA) is administering the Community Block Development Grant, as part of an employment incentive program.

The money that Braselton will receive from the grant will be placed into a newly-created revolving loan fund — which will then be available as a loan to downtown businesses that apply for the funds.

According to an underwriting policy for the loan, the loan money must be used to expand economic opportunities for those with low and moderate incomes in Braselton and prevent or eliminate slum and blight.

The program is designed to help small businesses in Braselton by providing “gap” financing, according to the policy. Those businesses must also get funding from other sources, such as private financial institutions.

A local loan review committee will then consider applications for the revolving loan fund and make recommendations to the Braselton Town Council for funding. That committee hasn’t been established yet by the town.

Braselton will take the grant money and loan it to its Urban Redevelopment Agency — which will then would be paid back to the revolving loan fund, according to town manager Jennifer Dees. The revolving loan fund money would be available to those businesses in downtown that qualify for funding.

Other Business
In other business, the Braselton Town Council:
•named Peggy Slappey as mayor pro tem for 2012.

•heard from Linda Moore, vice president of the Barrow Economic Development Council. Moore asked the town council to continue supporting the organization. For the current fiscal year, Braselton gave the group $2,000.

•approved an alcoholic beverage license for An Van Ho for Liberty Village Package, located at 3695 Village Way, for wine, malt beverage and distilled spirits by the package, including Sunday sales. Scott Snedecor, an owner of Ace Hardware off of Ga. Hwy. 211, had initially applied for a license for the package store. He later gave up the license so Van Ho can open the store. Braselton limits the number of package stores in the town based on its population.

•approved an alcoholic beverage license for Guadalupe Lopez for La Hacienda, located at 5391 Ga. Hwy. 53, for wine, malt beverage and distilled spirits for consumption on premises, including Sunday sales. The store is keeping is alcohol license, but it is being transferred to another person.

•approved a special event alcohol permit for the Friends of the Braselton-West Jackson Library for a fundraiser at the Braselton-Stover House on Wednesday, May 2. Cork & Keg, a package store in Braselton, will be serving alcoholic beverages during the event.

•approved an intergovernmental agreement for public safety services with Hall County. The agreement outlines a fee for 911 calls in Hall County. The 911 fee for wired lines and cell phones is $1.50 a month, which appears on customers’ statements. 911 fees for prepaid phones is 75 cents at the point of sale and each time additional minutes are purchased, according to Hall County 911 director Gail Lane. The fees are set by Hall County and are the same for all residents, according to Dees.

•approved the Georgia Emergency Management Agency (GEMA) statewide mutual aid agreement proposed by Jackson County.