THE VISION ISSUE - City of Shaker Heights

The conference room at Dise & Company in Tower East, overlooking the Van Aken District. PHOTO BY GREEN STREET STUDIO.
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“The Vision Fund is targeted toward
established professional services
businesses that have some income
tax record here,” says Menesse. “We
can look at that record and tell them
we’ll put a small investment into their
building improvements, or into the
purchase of some capital equipment.
Then we’ll see a return on investment
through the income tax that business
brings into the community,” says Menesse.
Since the program began, the City
has awarded five Vision Fund loans.
In the short term, the program helps
business owners make small, incremental
improvements to their buildings.
But Menesse expects the biggest
opportunity for the City will come
when building owners want to make
significant improvements to their
space.
“The win on both sides is that we’d
help the businesses make major improvements
and the City would stand
a very good chance of seeing a return,”
Menesse says, adding, “Even if the
business doesn’t succeed, we’ve still
improved the real estate in our community
so that other businesses can
come in.”
The Ignition Fund targets restaurants
and retail businesses. Managed
by the Economic and Community
Development Institute of Cleveland,
a nonprofit that focuses on providing
Cleveland entrepreneurs with small
business loans up to $50,000, the Ignition
Fund enables would-be restaurateurs
and retailers to obtain the money
they need to start their businesses.
Lucy’s Sweet Surrender, which relocated
last summer to the former Chandler
and Rudd space at Chagrin Boulevard
and Warrensville Center Road,
recently benefitted from a $15,000 Ignition
Fund loan and a $15,000 City
grant. Menesse is optimistic that other
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