Buckeye Lake Businesses Can Apply For State Grants, Loans

Posted on:

< < Back to

Buckeye Lake businesses that lost sales revenue because of the dam-repair project may start applying Tuesday for state grants and loans.

The Columbus Dispatch reports the Ohio Development Services Agency will consider applications on a first-come, first-served basis. Representative Tim Schaffer, a Lancaster Republican, pushed to include a $1 million economic-aid package in the two-year state budget that took effect July 1.

Businesses must be able to show that revenue dropped by at least 40 percent in 2015 from 2014.

Businesses may apply for grants to compensate for up to 50 percent of their losses to a maximum of $10,000, and for no-interest loans up to $20,000 for up to seven years with no collateral required.

State officials have said they hope that the current expedited construction schedule will allow the lake to be refilled around June 1 to nearly its usual summer depth, allowing boating to return.