October 2018 – The WLDC has participated along with the Town of Wheatfield and consultant H. Sicherman in the Jacobs Ladder project review with the New York State Homes & Community Renewal. We expect a report to be generated on project performance and guidance in the near future.
September 2018 – The WLDC is positioning itself to take action on 2 projects at this time. We have been assigned by the Town Board the Pellicano’s OCR grant and will be working towards obtaining a consultant. We have also received word that the Big Thunder Brewing project is back on track and will also be working towards obtaining consultant services for that as well. The Jacobs Ladder project will undergo a review from New York State Homes and Community Renewal in the very near future to evaluate progress and schedule a closeout. From the WLDC’s perspective, Jacobs Ladder continues to make timely payments on their term loan obligation and we believe they have fully satisfied their hiring/job creation obligations. The State will make that final determination but we expect it to go well. Payments will continue from Jacobs until the full term loan is satisfied.
August 2018 – The WLDC is still in the process of working with Big Thunder Brewing to move that project forward. There are no further updates at this time. We are also evaluating another local business opportunity and will have more information available once it becomes public.
June 2017 – The WLDC is working with the Town of Wheatfield on a $750,000 CDBG grant for Niagara International Sports & Entertainment dba Big Thunder Brewing. The proceeds from this grant will be to purchase brewing equipment for their location in the old Save-a-Lot store at the Summit Park property. Completion of the project is slated for Q1 2018.
Dec 9, 2016 – The Wheatfield LDC would like to announce the completion of our first project. In conjunction with the Town of Wheatfield, a $100,000 grant was obtained from the Office of Community Renewal (OCR) for Jacobs Ladder to assist with capital improvements and the hiring of additional workers. The package consists of a Term Loan to be spread over a number of years and a Deferred Loan that may be forgiven should OCR guidelines and the LDC contract requirements be met within the stated time frame. LDC Chairman Bill Wagner states “It is an exciting accomplishment for the LDC. Our stated mission is to assist with business development in the Town of Wheatfield and we are proud to have completed our first project. We look forward to finding more opportunities for job growth and business expansion in Wheatfield.”
2016 – The Wheatfield LDC is currently in the process of evaluating a Community Development Block Grant opportunity for Jacobs Ladder in conjunction with the Wheatfield Town Board. The purpose of this grant will be to assist the company in meeting certain capital requirements related to their expansion into the property located at 6292 Walmore Road. Jacobs Ladder is an exercise equipment manufacturing company.