BUSINESS ASSISTANCE PLAN
CHAPTER 3.1:
KOAM PHARMACY
1 Ch. 3.1 – COMMERCIAL FAÇADE IMPROVEMENT
CITY-WIDE MATCHING LOANS
Adopted on April 8, 2024
Offered City-wide for façade improvements and upgrades
Offers 66% matching loan
Maximum loan amount of $35K (both Business & Property Owner) Disbursement is through invoice reimbursement
Provided at 0% interest and fully forgiven over 5 years
Enhance the outward appearance and economic vitality of commercial properties through the city Match of 2/3 or 66%
Loans are distributed on a cost-reimbursement basis
2 Steve Kim, Pharmacist and owner of Koam Pharmacy
Located at 16827 Bellflower Blvd. (former Young’s Glass) Will employ 3 F/T and 5 P/T employees
Application qualifies and meets the requirements
2 separate pharmacies – front portion is open to public & the rear is serving specialty long term care Applicant
3 Building Signage
Cosmetic repair
Scope of Work
16827 Bellflower Blvd.
Current
Fresh paint
New ballistic windows
After
4 Recommendation
Open the public hearing, take testimonial and documentary evidence; and after considering the evidence, consider adopting Resolution No. 24-52 authorizing the City Manager to enter into a loan agreement with Steve Kim, owner of Koam Pharmacy, in a form approved by the City Attorney; or
Alternatively, discuss and take other action related to this item.
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