The Clinton Herald, Clinton, Iowa

Local News

January 3, 2013

Fulton retail development group continues downtown enhancements

FULTON, Ill. — The Fulton Retail Development Group is seeking money to complete major improvements to the downtown with the hope of bringing in a fine dining establishment.

“We are now entering into a new era in our efforts to revitalize Fulton’s downtown,” Chairman Charles Dykstra said. “We are completing arrangements to purchase the Treasures and Treats’ two adjoining buildings for $90,000 with the goal of enticing a fine restaurant to the downtown area.”  

The group plans to offer a rent-to-own option that would allow the renter to purchase the property at a pre-determined price and take possession as soon as 25 percent of the price — instead of the typical bank-required down payment — has been paid in rent. The effect of this incentive will be to offer a restaurateur the ability to purchase a building with an interest-free down payment and no money down. The Board of Directors is already making contacts with potential occupants, according to Dykstra.

More than 50 residents have pooled their money together to support the group, which currently has $68,964 on hand.

The Fulton Retail Development Group also owns the theater building, which is debt-free.  The building listed for $145,000. If it were sold for the depreciated value of $128,242 and closed up shop after nine years, the shareholders would receive $634 for their purchase of $500 shares. If the building is sold for the $143,000, all shareholders would get $682 per share.

“We do not want to disband, and we do not want to sell the theater building for less than its value in a tight real estate market, since the rents we collect improve our balance sheet asset position by approximately $10,000 each year,” Dykstra said.  “We would like to raise an additional $100,000 in capital so that we can pay cash for the old pharmacy buildings and make some necessary improvements.”

Letters have been sent out to current and potential shareholders soliciting donations to fund these improvements.

The Fulton Retail Development Group was established more than nine years ago and has helped complete multiple projects in the retail district. The group purchased a double building, eliminated one of two downtown first-floor apartments, and was instrumental in bringing in the Golden Wok Chinese restaurant.

Other projects include working with local businesses to improve the look of downtown. Calico Creations removed the plywood façade covering its second and third floors to reveal a much improved appearance. The Strating building, which has stood empty for more than 25 years, was completely renovated, complete with stylish rear entrance.

Two of the shareholders took it upon themselves to purchase an old empty wooden building and a parking lot, getting ahead of an entrepreneur who hoped to erect storage sheds in this area. These properties were then sold to Manny’s, making possible the expansion of its facilities, including the new banquet facility and parking space.

With the group of dedicated individuals working to gain and retain businesses, there are likely to be continued improvements in the future.

“Our goal is to revitalize the downtown,” Dykstra said. “We have a really nice thing going here and we would like to keep it that way.”

1
Text Only
Local News
  • John Hood A year after 'chaos'

    It happened two hours after John Hood finished his run. Like many, he thought the loud boom was just the sound of cannons going off, something that shook the ground. It was odd, but Hood — a 1989 Clinton High School graduate — tried to make it logical, associating the noise with another good happening at the Boston Marathon.

    April 18, 2014 1 Photo

  • Clinton looks into roadway safety upgrades Herald Staff Report Clinton looks into roadway safety upgrades

    April 19, 2014

  • Theft trial for man charged in Wolfe sisters' murders

    A western Pennsylvania man accused of having robbed and killed his next-door neighbors, two sisters of Iowa Rep. Mary Wolfe, now also faces trial on charges that he stole another woman's wedding ring a year ago.

    State police in Greensburg allege that 43-year-old Allen Wade of East Liberty, Pa., stole the ring while delivering a refrigerator to a home in April 2013. Westmoreland County Common Pleas Judge Rita Hathaway on Thursday agreed to schedule the case for trial.

    April 18, 2014

  • More felonies added to sex abuse charges CLINTON -- A Clinton man already facing multiple felony charges for allegedly sexually abusing a child is now facing six more felonies for sexual exploitation of a child. Tony D. James, 45, was charged this past weekend with six counts of sexual expl

    April 18, 2014

  • Wildlife service to conduct burnings CLINTON -- The U.S. Fish and Wildlife Service will conduct several prescribed burns this spring. The burns will take place on the Upper Mississippi River National Wildlife and Fish Refuge in Carroll and Jo Daviess counties. Sites planned for burning

    April 18, 2014

  • Women jailed on meth charges

    CLINTON -- Two Clinton women are currently being held in the Clinton County jail on $50,000 cash-only bonds for methamphetamine charges. Jessica L. Crabtree, 29, 215 10th Ave. North, and Tera A. Riddle, 27, 611 1/2 S. Seventh St., were arrested last

    April 18, 2014

  • Photo exhibit 2 'Hats Off' Art exhibit covers downtown (With Map & Video)

    CLINTON -- A clown. Clinton High wrestlers. An expecting mother. A young Mozart. These faces and more all peered through downtown storefronts Thursday. They're there again today, too. Looking back at them was photographer Jean Black. They are her way

    April 18, 2014 3 Photos

  • Fire alarm evacuation at Eagle Heights

    Students of Eagle Heights Elementary School were evacuated Thursday afternoon after staff smelled something being emitted in the first-grade hallway and main office areas.

    According to a press release from the Clinton Community School District, staff noticed the smell at approximately 1:10 p.m. It was then determined the fire department should be notified, and the fire alarm was pulled. The building was evacuated quickly and the Clinton Fire Department responded immediately.

    April 17, 2014

  • UPDATED: McColley found not guilty of sex abuse

    Relief showed on the faces of Russell McColley and his family Thursday as a verdict of not guilty was read in court.
    "Our prayers were answered, that's all I have to say," Tracy Hook, McColley's sister, said.
    McColley was facing a charge of second-degree sexual abuse. If he had been convicted of the class B felony, he could have faced as much as 25 years in prison.

    April 17, 2014

  • Court denies man's appeal in robbery CLINTON -- The Iowa Court of Appeals has upheld a conviction of a man who robbed a Clinton pawn shop in 2012. Darrell L. Thomas recently appealed his first-degree robbery conviction to the Iowa Court of Appeals. The court released its decision Wednes

    April 17, 2014

Facebook
Clinton
Camanche
Fulton
Clinton Herald photos


Browse, buy and submit pictures with our photo site.