Request for EDIT loan is tabled

A local business is asking for financial help from the county.

Riya Hospitality’s Paresh Patel asked Jay County Commissioners for a $219,573 loan Monday in order to help connect the former Budget Inn to Portland’s wastewater system.

Paresh Patel explained his company purchased the property at 1411 N. U.S. 27 last year. Riya Hospitality plans to renovate the building into a 22-unit furnished rental complex. Part of renovations include extending a sewer line to the facility just north of Portland in order to connect to the city’s wastewater system. (The old septic system is no longer viable.)

Patel’s business has already invested nearly $164,000 into the project, which includes acquisition of the property as well as buying fixtures and other costs. The total project is estimated to cost approximately $383,573. Patel asked commissioners to contribute the remaining $219,573 in the form of a loan or grant.

Portland Economic Development Income Tax (EDIT) Advisory Committee tabled the same request from Riya Hospitality in December, noting a few questions about the project. (The property sits just outside of city limits.)

Commissioners asked Patel several questions about the project, learning the company purchased the land outright and owes no mortgage. Riya Hospitality approached the city and county for help after its was turned down for a bank loan.

Jay County Development Corporation executive director Travis Richards pointed out the city and county EDIT groups reviewed CB Development’s 35-unit condominium project — it was planned for the space just off county road 75 South near Jay County Junior-Senior High School — together in recent years.

“Coming out of the city EDIT Advisory, that’s kind of the hope from the city’s part, that the city and county could meet together and kind of discuss this project and figure out how to move forward and what that looks like,” he said.

Richards referenced a revolving loan, noting the county has offered such options in the past. (According to auditor Emily Franks, the last revolving loan in the county’s record dates back to 2016.)

Commissioner Rex Journay asked for financial information, such as Riya Hospitality’s plan for pricing units as well as corresponding tax documents. Patel said he would gather that information to share with them, and commissioners decided to table the request.

Richards also suggested the county look at reviving its old application for revolving loans for such projects in the future and told commissioners he would send them a copy.

In other business, Richards noted the county’s contract with Yodel Community Connections is nearing its end. He suggested renewing with the group, which has for the last year provided a community wide online calendar for Jay County residents to post and view events daily.

Originally, JCDC paid for the $4,800 service using remaining dollars from the Indiana Office of Community and Rural Affairs Stellar Communities program. Richards explained JCDC would cover the renewal cost but wanted to run the decision by commissioners.

Jay County’s Yodel calendar has 73 upcoming events in the next month, Richards said, with 717 followers, 72 organizations and 217 general user accounts.

Richards spoke highly of the service as a “very good tool” for those in the county, although he admitted if renewed the county should map out how to better utilize and market the calendar. He suggested a collaboration between different entities, such as Jay County Visitors and Tourism Bureau, East Central Indiana Region