An old, abandoned church building downtown will receive a second life, thanks in part to a forgivable loan from the City of Kokomo.
The Kokomo Redevelopment Commission last Friday unanimously approved a forgivable loan of $122,500 to go toward renovating the structure at 604 N. Main St. into apartments and office space.
FLF Property LLC, headed by Kerry Featherston, will undertake the project, which will include transforming the old church building to seven one- or two-bedroom apartments and two office spaces. The parking lot directly south of the building will be utilized for the apartments and office spaces.
In a brief interview with the Tribune on Tuesday, Featherston said he plans to begin construction on the building in August. Construction is expected to last a year or so.
Before beginning the project, Featherston will need to receive approval from the Kokomo City Council to rezone the property. Featherston is also the owner of Featherston Construction.
The loan, according to City Attorney TJ Rethlake, will technically be given to the Kokomo Community Development Corporation, which will make sure the project is coming along as planned. Rethlake said Featherston received some private funding from First Farmers Bank and Trust, but not enough to cover the whole project. Hence, the request to the city for the loan.
“We make sure everything’s done properly, and if they’re not developing, then we can refuse to allow the disbursement of money,” Rethlake said.