Share |

Entrepreneurial Center Coming to Morgan - Final Negotiations in Process

Article Date: 
25 February, 2011 - 06:00

After long negotiations it appears that the DATC (the Davis Applied Technology Center) will be opening an entrepreneurial center in Morgan.  The DATC has a center already on its campus in Layton and have been working to establish a second location in Morgan.
The Center provides training and office space for businesses in the early stages of their development.  Businesses can lease office space in the center.  This lease will provide them office space as well as access to resources such as printers and other office equipment needed for start up businesses.  
Space is leased at rates approximately one third of the market value for the first year, two thirds for the second year, and then at full market value in the third year.   This allows businesses to have access to resources at reduced rates during the early years of development when low expenses are critical.
The DATC also provides training  to give new business owners the skills and knowledge to succeed.  Morgan has many home-based businesses and the center will provide a way to help these businesses reach to the next level.
Morgan city was awarded a CDBG (Community Development Block Grant) grant for economic development that will be used to provide a facility for the DATC.  The grant is for $300,000.  The grant will expire in the near future and this has provided a deadline for a decision from the DATC.  
The city is planning to use the grant money to purchase the building that previously housed Val’s Flowers to use for the center.  The purchase price will be approximately $244,000.  The remainder of the grant will be used to furnish and provide operating funds for the center.  Once the conditions of the grant are met by the DATC, ownership of the building will pass to them.
The city is drafting a memorandum of understanding with the DATC and will be meeting on Monday at 3:30 p.m. to finalize this agreement.  The center is expected to be open by June.