The Taylor Economic Development Corporation is providing $325,000 in infrastructure grants for two downtown projects.
The economic group recently approved two agreements that are supposed to help with infrastructure needed for two downtown area projects, Taylor EDC announced in a press release Monday, April 1.
With these two infrastructure grants, the TEDC said it was able to “close the gap” for projects that will help re-energize Downtown Taylor.
“We believe our downtown is an important asset to our community. We all want to see a vibrant downtown where people can shop, eat, work, and live,” said Betty Day, TEDC Chairperson.
The TEDC voted to help fund infrastructure at the Talbot Commons developed by Talbot Commons LLC. Talbot Commons is the restoration of the former First Presbyterian Church built in 1912.
This mixed-use development will have a restaurant, retail space, hotel rooms and provides workforce housing. The developer will be eligible for up to $200,000 in infrastructure grants once the developer has shown paid receipts on qualifying expenses.
“TEDC has been a great collaborative partner in helping this smallscale development happen. Projects like Talbot Commons have been created to make great places for Taylor residents and visitors,” said Doug Moss, manager of Talbot Commons LLC.
The second project the TEDC voted to fund infrastructure improvements was the redevelopment of 219-221 Main Street and 109 W. 3rd Street, to be known as “The Pharmacy”, in a nod to its historic role hosting the Luhn & Johns Pharmacy.
Also a mixed-use project, The Pharmacy plans to reimagine the turn of the 20th Century Main Street-style building with interconnected boutique hotel, restaurant, office and retail spaces.
“TEDC’s project support is much appreciated and timely and will help Downtown Taylor bridge to an even more dynamic future, coinciding with Taylor’s development into a major semiconductor manufacturing hub,” developer Ujjal Ghoshtagore said.
The developer will be eligible for up to $125,000 in infrastructure grants once the developer has shown paid receipts on qualifying expenses.
