Main Street Lyndonville LLC

In 2018 I purchased buildings encompassing 9,000 square feet of commercial space in my home town of Lyndonville New York. 2 buildings are 2 story and 1 is one story. Lyndonville is halfway between Rochester and Niagara Falls New York and 4 miles off Lake Ontario.  

The project was held back for 2 years due to COVID and we are in the home stretch of completing the project.  One of the two story buildings (4,400 square feet) will be a 4 room (3 suite) boutique hotel  on the 2nd floor with retail space on the 1st floor.  The 2nd building  (3,100 square feet) will have 3 furnished studio apartments on the 2nd floor and retail professional office space on the the 1st floor.  The last building is a 1 story building 1,500 square feet with 2 retail spaces with outdoor patio space. 

I received two grants; one from the utility company National Grid  for a Shovel Ready Project  of $50,000 and the local village received a New York State Main Street Anchor Grant in the amount of $500,000 for 2 of the three buildings.  Each of these grants are reimbursement grants.  This means I must spend the money first and then submit cancelled checks and  paid invoices for reimbursement,  The Utility grant is a reimbursement of 100% for each dollar spent up to $50,000.  The State Grant reimburses at 75%  for every dollar spent.  The state of New York has made two progress payments to date.  

The project is currently in between reimbursements from National Grid for $50,000 and pending 3rd progress payment from New York State for $130,000.  Orders  need to be placed for the following items with 50% funding to place the orders for the materials needed.   There is a deadline to finish the project by 12/31/2022 to get the balance of funding from New York State Main Street Anchor Grant (this is a final extension extension awarded this month.  If we don't finish by 12/31/2022 we potential will lose the balance of reimbursement funds which is approximately $276,000.

1.  Back Porch Replacement Remodel $39,000 on building with  3 furnished studio apartment rental units.
2.  South Wall of 1500 square foot building exterior wall finish with framing and hardy board overlay on a cinder brick wall $20,000
3.  Rough Plumbing Install $15,000
4.  Rough Electrical Install $22,000
5.  HVAC Unit Install in retail space of 2 buildings, 3,000 square feet $50,000
6.  Drywall in 1,500 square foot building $8,800
7. Flooring install 1,500 square foot building retail space $9,000

These bids that need to be funded are reimbursable from my New York State Grant at 75% or $122,000 which will be used to pay back the funds I am able to secure here at Ask For Funding.  
Thank you for your consideration and I am able to provide additional details on request.

Robert
Main Street Lyndonville LLC
Sole Member Owner