Schulenburg EDC Opens Wallet to Reward Developer

Schulenburg City Council unanimously approved a plan to offer $100,000 in incentives from the City’s Economic Development Corporation to North Main Street 501 LLC, the company behind the new Anytime Fitness location in Schulenburg. 

The vote took place at a meeting on Monday, April 17. The incentive package includes a $75,000 loan and a $25,000 grant. North Main Street 501 is owned by Schulenburg realtor Chip Bubela, who is also running for the Place 1 seat on City Council in the May election.

Councilwoman Brenda Rehak asked if the EDC has ever offered a grant to a private business in the past. 

“This is the first time they’ve given a grant,” said Schulenburg City Administrator Tami Blaschke-Walker. She added that in the past, the EDC has only offered loans to private businesses. “They felt they would do something a little bit more appealing to the businesses that request funds. So this time they chose to do a $25,000 grant that is not to be reimbursed. We would do the loan for $75,000.”

To read more please log in or subscribe to the digital edition. http://etypeservices.com/Fayette%20County%20RecordID96/