Allen County commissioners voted 2-1 to help Our Market move one step closer to opening a grocery store in Humboldt, putting an end to several months of debate and following a precedent established by aiding the start-ups of G&W Foods of Iola and Marmaton Market in Moran.
The commission will give Scott and Amy Welch, owners of Our Market, an $80,000 loan for the purchase of the grocery’s rack system, i.e. freezer and cooler equipment, with a loan forgiveness provision based on sales tax receipts.
The Welches estimate the county can expect to net $22,000 a year in sales tax revenues. If they do so across four years, the loan will be forgiven. The specific language — and what would happen to the loan if Our Market does not meet those goals — will be redacted into a pending economic incentive agreement between the Welches and the commission.
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