The Downtown Investment Authority Retail Enhancement Review Committee is scheduled to evaluate two more grant/forgivable loan applications today.
One is for the expansion of a 20-year-old Downtown business; the other would help establish a new business in the urban core to cater to wine and cheese aficionados.
Both businesses are located in historic Downtown buildings and each grant would improve retail infrastructure in the urban core and lead to the creation of additional full-time jobs.
Dan Gamsky opened his Daniel James Salon in the Drew Building at 45 W. Bay St. in 1995. He is requesting a $32,000 forgivable loan to open an additional 1,600 square feet of space.
If the authority approves the application, the principal would be reduced at the rate of 20 percent per year for five years after Gamsky fulfills his obligations outlined in the proposal.
Gamsky’s application said he has hired two employees as part of the expansion plan and anticipates doubling the staff to 16 within two years.
He also plans to add an aromatherapy room, a waxing room and four stations for stylists.
The application shows a $77,500 cost for the expansion. The business will cover the balance above the $32,000 grant.
Gamsky said the grant would make it possible for him to do what he wanted to do when he opened the salon, but didn’t have the resources or business base.
The Downtown business development climate has changed, he said.
“I’ve wanted to do this for 20 years. I always knew I would get that spot,” he said. “The grant is part of it, but Downtown also has great momentum.”
Work on the project, Gamsky said, is on schedule for completion by Aug. 15, when he plans to host a 20-year anniversary celebration in the new space.
VCP-Roosevelt Building Ltd., owner of The Carling, applied for a $33,520 forgivable grant to cover a portion of the $107,613 cost to build-out 1,676 square feet of retail, office and storage space on the ground floor at 31 W. Adams St. for Wine Decadence.
Installation of an HVAC system, and interior and electrical system improvements are listed in the project application.
The business is described in the application as using a direct-sales approach to provide opportunities for customers to socialize, increase their knowledge of wine and cheese pairings, and raise awareness and sales of Foley Family Wines and related accessories.
Foley Family Wines was founded by Bill Foley, executive chairman of the board of directors for Fidelity National Financial and vice chairman of the board of Fidelity National Information Services.
Rick Cox, executive vice president and chief tax officer for Fidelity National Financial, is listed as the CEO of Wine Decadence.
Wally Lee is president of Wine Decadence. He’s the former CEO and president of the JAX Chamber.
Steven Wallace, former president of Florida State College at Jacksonville, is listed as a partner and senior executive.
“The company will have a culture of fun, exclusive events with low-pressure sales. The brand will have a trendy and young feel while exuding prestige,” the business plan states.
According to the application, Wine Decadence anticipates creating six full-time jobs and projects sales of more than $1 million in its first year of operation.
The grant evaluation committee is scheduled to meet at 11 a.m. today in Suite 310 at City Hall.
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