LIMA, Ohio (WLIO) - It was a full day of meetings for a company looking to invest millions into the city of Lima.
The company visited town to hold in-person office hours, where they met with interested parties, including those involved in development projects, small businesses looking to expand, and individuals wanting to start new ventures and get their ideas in front of Arctaris. The impact investors have committed $20 million, with an additional $5 million investment from the City of Lima and the Lima-Allen County Chamber Foundation, to provide a funding gap for projects that meet their criteria.
The impact investors have committed $20 million.
"There's a number of projects that, you know, we don't want to disclose yet because they're still in process, but they're both, you know, existing buildings here that we think, you know, have potential, that are for sale, that we could renovate into something, you know, pretty interesting, that that goes into some of those themes I was talking about before. Talking about before, or some opportunities on some vacant land to go and build, you know, some of these things that really aligned with the community's goals. So our hope is, you know, sometime in the next few months, we'll have some exciting announcements, but we really have to keep working on some of these projects to, you know, make sure we can make that a reality," said Patrick Mullen, managing director for Arctaris Impact Investors.
Mullens says they hope to return for more in-person office hours but will also hold virtual meetings. Businesses and projects must be located in one of the three Opportunity Zones in downtown Lima. More information is available on the City of Lima’s website by searching for Arctaris.
