Front Street Shipyard Seeking Grant to Expand Operations in Belfast
Posted April 5, 2015 Front Street Shipyard and the City of Belfast are working together to obtain funds through the Community Development Block Grant (CDBG) Economic Development Program to purchase the equipment and utility vehicles necessary to outfit its soon-to-be constructed “Building Six.” The specific equipment would include: cranes, curtain walls; a compressor; an air filtration system; piping; and scissor lifts; the utility vehicles to be purchased would include a forktruck and a pickup truck. This equipment and these utility vehicles are necessary to be able to use Building Six to its fullest capacity.
"Building Six will expand Front Street Shipyard's capacity for large vessels," said JB Turner, president of Front Street Shipyard. "With additional shop space and new additions to our staff, we'll be able to attract more recreational yachts to the mid-coast Maine area, which we see as a benefit to our neighboring businesses as well as our own."
“The City of Belfast is excited to continue our effective partnership with Front Street Shipyard, by assisting them in securing this funding that is necessary for the next phase of their expansion,” stated Belfast Economic Development Director Thomas Kittredge. “We have been so pleased to have had Front Street Shipyard here in Belfast for the last 4 years, providing quality jobs to our community, as well as investing in and revitalizing our waterfront, and we are looking forward to the next stage of their growth.”
The current estimated total budget for the proposed project is $532,660; the City of Belfast and Front Street Shipyard will be applying for grant funding to cover 50% of that amount ($266,330), with the remainder of the costs to be covered by Front Street Shipyard’s cash flows and lines of credit. As part of this project, Front Street Shipyard will also commit to create 10 new full-time positions (carpenters, composite technicians, mechanics, and painters), with at least 6 of those positions being taken by individuals from low-to-moderate income households.
As part of the citizen participation process for this grant application, the City of Belfast will be holding a public hearing on the grant application immediately prior to its regularly-scheduled City Council meeting at 7:00 PM on Tuesday, April 7th. A decision on the grant is expected in late June.
For more information regarding this grant, please visit www.cityofbelfast.org/frontstreetshipyard. Comments regarding the grant can be sent at any time up through April 24th to Thomas Kittredge, Economic Development Director, Belfast City Hall, 131 Church Street, Belfast, Maine 04915, or via e-mail at email@example.com.
The CDBG program’s primary objective is to develop viable communities by providing decent housing and a suitable living environment and by expanding economic opportunities, principally for persons of low- and moderate-income.