Frasure Creek Properties LLC | Application Preview
Frasure Creek Properties LLC is seeking government grants to fund essential upgrades for seven rental units. The requested funding will support the transition to electric heating and cooling systems, which require an increase in electrical service capacity from 100 amps to 200 amps. The total estimated cost for these upgrades is $10,000 per unit.
Currently, each unit is rented at $400 per month, a rate set to accommodate tenants who cannot afford higher payments. With the upgrades, the intent is to lower the monthly utility costs for renters, as the city's natural gas prices are notably high.
The business aims to use increased rental income to invest back into the property, providing better living conditions for tenants. Although there is no specific competition cited, the owner acknowledges the broader economic pressures, such as inflation, impacting renters' situations. The overarching goal of securing this funding is to enhance the quality of housing and reduce living expenses for residents.
-
General Information
Business Registration Number: Frasure Creek Properties LLC
Location: McDowell, KY, United States
Length of Operation: 6-10
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: NO
-
Funding Usage
I have 7 rental units that need electrical, heating and cooling upgrades.I onlyh charge $400 per Month because they can't afford anymore than that. With this monthly rate I can not upgrade thier heating and cooling to electirc and before that is done the electric most be upgrade from 100 amp to 200 amp service. I am estimating the cost at $10,000 per unit. This would make my renters monthly bills cheaper because the City of Wheelwright's natural gas is very expensive.
-
Business Plan
By being able to charge more monthly rent so I can put more money back into the business. so I can provide more upgrades to my renters.
-
Self Identified Competition
N/A Don't really have any just people that have been hit by inflation.
-
Contact Applicant
Subscribe to our Administrator Dashboard to gain full access to this application. Learn More
