GEDC Awards Grants to STP Holdings; Janda Monuments

Giddings, TX (February 4, 2019) –   The Giddings Economic Development Corporation (GEDC) will seek City Council approval to award a grant of $20,000 to STP Holdings, LLC.

In December, STP Holdings purchased the Faske Electric Building at 246 E. Austin St. in Giddings from Elmer and Ruth Faske, and later that month executed an agreement with local general contractor JBLocke (i.e. Jason Locke) to perform renovation work on the building/property. 

STP Holdings, LLC plans to divide lease the space to Schultz Texas Properties, which now oversees 20 real estate listing agents, and to Cory Harris of State Farm of Texas.

The existing building is 5,624 sq ft; however, the Company plans to convert approximately 2,400 sq ft of the existing building to open/covered parking, and to convert the front portion of the building into approximately two (2) 1,600 sq ft commercial lease spaces. The grant will cover the cost of converting the back of the building to seven (7) new parking spaces, and of repairing/ upgrading the existing parking area in front of the building along US Hwy 290.

This one-time request for capital improvement monies will not solely benefit STP, but will also benefit adjacent businesses such as Reba’s Deli and Emporium, and the Downtown Business District.

The total project cost including property purchase, renovations and repairs is estimated to be in excess of $350,000.  First National Bank Giddings is providing the financing.  The project is to be completed by April 30, 2019.

The GEDC also provided Janda Monuments with an award of $10,000.  Janda Monuments plans to relocate to a new 30 x 40 ft building on five lots at 913 W Austin Street.  Janda sought funds to assist with dirt work for the new building and to upgrade computer, software and printer necessary to perform the stenciling and engraving work.  The award will be used for the purchase of a new stencil plotter, computer and software and stipulates that Janda must remain in business within the city limits for a minimum of one year or be subject to a clawback provision.   Janda previously received an award from the GEDC of $5,000 in 2015 to assist in securing a mobile inscriber and which he stated helped him to remain in business and to save funds for the expansion in spite of the downturn in the oil and gas industry during that period.