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Loans to help sale of Movieplex

OBSERVER Photo by M.J. Stafford Movieplex 59 on Route 60 in the town of Dunkirk is pictured.

Chautauqua County is using federal funds to help a local resident buy the Dunkirk Movieplex as well as help two existing businesses recover from COVID.

During a meeting this week of the county Industrial Development Agency, board members approved a loan to New Cinema Relations, LLC to purchase the Dunkirk Movieplex. Nathan Rogers of Forestville is the current manager of the theater and formed the company interested in buying the movieplex, which is located on Route 60 in the town of Dunkirk by the entrance to the Thruway.

According to IDA officials, Rogers has 18 years in the theater industry with 12 of them in Dunkirk, and is an Air Force veteran, serving in the Air Force Reserves. His plans include eventually upgrading the auditorium and other parts of the business.

The IDA said this is a $350,000 purchase, and Rogers is seeking a $100,000 loan. The business currently employs seven individuals and the new owner hopes to eventually add three to four staff members.

Kristine Morabito, project manager with the county IDA, called the location “one of the premiere entertainment attractions” in Northern Chautauqua County. “Our family attended ‘Spiderman’ before this request came in and the ‘Uncharted’ movie afterward and both were great experiences at this establishment,” she said.

The IDA Board of Directors unanimously approved the loan. The money is part of the federal CARES Act that was provided to Chautauqua County through the Economic Development Administration’s Revolving Loan Fund.

COLECRAFT COMMERCIAL FURNISHINGS

Carol Rasmussen with the county IDA noted that Colecraft Commercial Furnishings was negatively impacted by COVID-19. The Jamestown business was shut down for eight weeks as was required by law. Over the next two years, the company’s revenue was down more than $1 million and they lost two contracts due to supply chain issues.

But Rasmussen said the company believes brighter days are ahead. “Colecraft has a very impressive business plan going forward,” she said.

Highlights include a new marketing plan, reduction of waste, and new efficiency plans.

The company requested a $100,000 loan, which will come from the federal CARES Act. The money will be used for new equipment, payroll and address cash flow.

The IDA Board of Directors unanimously approved the loan.

BILICKI LAW FIRM

Richard Dixon with the county IDA noted that the Bilicki Law Firm was negatively impacted by COVID-19. The Jamestown law firm had an office building on North Main Street but no longer own it. The six attorneys have stayed on but are working remotely.

“Due to the pandemic, he (owner Byron Bilicki) saw a severe crunch in his cash flow. Clients have reduced their demands for legal services, especially on the intellectual property side. Additionally the federal courts were closed for a while and when they reopened it was at a slower pace,” said Dixon.

Dixon said the firm is starting to pick up more business. The IDA previously provided an $87,000 loan through the federal CARES Act and agreed to give an additional $80,000 loan. The resolution for the second loan was unanimously approved.

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