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Incentive Without Walls loan awarded
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HOISINGTON — The Department of Commerce through its Incentive Without Walls (IWW) Program has approved a request by Hoisington Main Street, Inc. (HMSI) for funding of $20,000 to lend to Kindscher’ Mule Barn. This is a competitive application process only available to communities in the State of Kansas who are part of the Kansas Main Street program.

The funds received from the State go into HMSI’s IWW fund and are then lent to local businesses located in the Hoisington Main Street district. As loans are paid back by the local business the funds remain in HMSI’s IWW loan fund to be re-lent to other businesses. If HMSI were to dissolve the funds go back to the State of Kansas to be granted to other communities in the Kansas Main Street program.

HMSI became a member of the Kansas Main Street program in July of 2005. Since that time it has succeeded in applying to the State of Kansas on behalf of 13 businesses for IWW funds totaling $69,000 with project investments totaling $332,000. These funds have been used to purchase awnings, business signage, roofs, start up inventory and interior remodeling. The loans are for zero percent interest and require a match of 1 to 3 by the business. The repayment period may extend up to seven years.

One criteria for a successful application is that the project will create or save jobs. Kindscher’s Mule Barn will generate three new full time positions and three part time positions when it opens March 2012.

Another criteria is that the project will create a stronger tax base for the community. Kindscher’s Mule Barn will be selling a product that will generate sales tax to replace that lost by the closing of Duckwall and Cheyenne Hardware and provide salaries that generate income tax. In addition, it will provide rental income to Hoisington Community Development, Inc., the building owner, to pay property tax and maintenance for the upkeep of the structure.

HMSI would encourage residents to become a supporter of Kindscher’s Mule Barn when it opens in addition to supporting all our local businesses. "The revitalization of Hoisington and the strengthening of its tax base can only occur if the residents of Hoisington patronize its local businesses," said Paula Manweiler, volunteer for HMSI.