Three businesses that are either coming to or expanding in Mentor could receive grants from the government if City Council approves them during its meeting 7 p.m. Tuesday at City Hall.
BurgerFi and Fredon Corporation could receive one-time economic development grants and Safeguard Properties could get a Mentor incentive grant, which is dependant on the business's payroll levels.
- BurgerFi is a franchise that was started in Florida. It markets itself as an urban roadside burger stand that sells customizable burgers and "hipster dogs."
According to the city of Mentor's grant information, this renovation will cost about $1 million -- in part because BurgerFi will be in the Mentor Village District and the restaurant is making an effort to make sure its appearance fits the district's motif.
The Mentor BurgerFi expects to have about 50 employees and a payroll of $460,000 by 2014. That payroll is expected to grow to more than $500,000 by 2018.
The Mentor City Council can vote on whether or not to give BurgerFi a one-time $10,000 grant to help pay for costs associated with purchasing equipment and signage.
When BurgerFi opens in Mentor, it will be the chain's first franchise in Ohio.
- Fredon makes helicopter, jet and missile parts and assemblies for the likes of Safran and Honeywell.
It has been in business for 43 years and recently moved to a larger headquarters at 8990 Tyler Blvd.
The move has allowed Fredon to expand its output and workforce.
As part of its expansion, Fredon expects to increase its payroll from $5.4 million in 2012 to $5.9 million in 2013, as well as add $1.5 million in new equipment and machinery.
Mentor City Council can vote today on a one-time $10,000 grant to help pay for costs assocaiated with this equipment and machinery.
- Safeguard Properties Management is the largest privately held field services in the country.
It opened an office in Mentor in 2011, leasing 40,000 square feet at 8100 Tyler Blvd. -- the former National Screw building.
As a result of its acquisition of the Bank of America field services company, Safeguard will consolidate its operations and expand its workforce in Mentor from 148 to 184 employees with a corresponding increase in payroll.
City Council can vote on a 2-step, 4-year Mentor incentive grant that could be worth as much as $20,600 to Safeguard, depending on the company's payroll.
If the company maintains a payroll of $5 million or higher in Mentor in 2013, Safeguard would receive a grant worth 10 percent of its new Mentor payroll taxes.
Step two would take place in 2014 through 2016. If Safeguard maintains a payroll of $5.9 million or more during that time, it would receive a grant worth 20 percent of its new Mentor payroll taxes.
The most the grant can be worth is $20,600.
Should Safeguard not reach its payroll minimum for a year, it would not receive its grant for that year.
Before the Council meeting, the city administration and Council will have a work session at 5:30 p.m. in City Hall.
They will discuss how to process complaints and how the charter breaks down legislative versus administrative responsibilities.
The legislation for tonight's meeting is attached as a PDF.