Monocle Comics & Coffee will use the grant to offset inventory costs including comic books, coffee, accessories and apparel. An estimated fourth-fifths of revenue will be generated by comic book sales and one-fifth by coffee sales, said Katie Frank, Miamisburg’s community development director.
Owner Adam Remillard, who grew up in Miamisburg, said much work has gone into the building since he purchased it in March, including revamping the front facade, windows and door. Work started this month on new plumbing, heating, air conditioning and electrical systems.
“It’s still a shell and we have a lot of work to do to get the shop ready,” Remillard said.
The building’s second floor will include one or two residential units, Frank said.
The city and the Miamisburg Merchants Association started the grant program.
“Between the city staff and this group of merchants, we decided we needed a program to help stimulate economic development in downtown,” Frank said. “So the intent of this program is to really attract new businesses to the downtown district that are a unique destination and offer an incentive ... to come downtown.”
The committee asks applicants for grant money for “very thorough” business plans and examines financial stability and growth projections.
Also considered with each application is whether a building has remained vacant for a long time, if it is underutilized and if it’s in an area the city is seeking to develop further, she said.
If city council approves a grant, the business may consider it a forgivable loan after being open for two years. If the business closes before then, the remainder of the money must be repaid to the city, Frank said.
About the Author
