$52,000 in incentives will support façade improvements, new businesses, vacant-space activation, and restoration of historic Sam’s Candy sign
COVINGTON, Ky. – The City of Covington’s Economic Development Division has announced the recipients of the first round of Small Business Incentives for Fiscal Year 2027, with six projects receiving a combined $52,000 in City funding.
The latest round includes three Façade Improvement incentives, two Rent Subsidies and one Historic Electric Signage incentive. Together, the projects will help transform vacant and deteriorated commercial properties, support three new Covington businesses and restore a beloved piece of the City’s history.
The six projects represent a diverse mix of economic development activity – from preparing vacant storefronts for future tenants to helping new businesses establish roots in Covington and bringing a decades-old candy shop sign back to life.
The six recipients are:
14 E. 5th Street – $10,000 Façade Improvement Incentive
Johnson Street Properties, Inc.
The incentive will help restore the deteriorated façade of the vacant building at 14 E. 5th Street, located along the busy 5th Street corridor in the Central Business District.
The project will include repairing existing windows, painting the façade, replacing light fixtures, rebuilding the storefront, and repairing existing doors. A tenant for the vacant space has yet to be determined.
16 E. 5th Street – $10,000 Façade Improvement Incentive
Johnson Street Properties, Inc.
Next door at 16 E. 5th Street, Johnson Street Properties will use a second $10,000 incentive to rehabilitate another deteriorated, vacant storefront.
The scope of work includes replacing windows, painting the entire façade, installing new lighting, rebuilding the storefront, and replacing the door. A tenant for the space has yet to be determined.
Together, the two projects will improve a prominent section of the 5th Street corridor and prepare two adjacent vacant storefronts for future investment and occupancy.
36 W. 5th Street – $10,000 Façade Improvement Incentive
Abbaline LLC
Abbaline LLC will use its $10,000 incentive to transform a former law office at 36 W. 5th Street into the new headquarters of Maile, Tekulve, and Gray, a fourth-generation, family-owned design-build firm focused on residential construction and remodeling.
Planned improvements include the addition of gas lanterns and landscape lighting, new windows and exterior signage, and new stucco and painting of the entire building.
The project represents a $4.60 private investment for every $1 of public funding provided through the incentive.
140-142 Pike Street – $6,000 Rent Subsidy
Legacy Key Property Management
Legacy Key Property Management, a woman-owned property management company, will receive a $6,000 Rent Subsidy to fill previously vacant commercial space at 140-142 Pike Street.
The company is dedicated to helping property owners maximize the value of their investments while providing exceptional service to tenants. Its owner worked with the Kentucky Small Business Development Center in Covington to develop the company’s business plan.
Legacy Key plans to hire three full-time employees, with a preference for Covington residents.
3622 Decoursey Avenue – $6,000 Rent Subsidy
The Word Cage LLC
The Word Cage LLC will receive a $6,000 Rent Subsidy to help establish a curated used book and media store at 3622 Decoursey Avenue in the Latonia Neighborhood.
The business will cater to avid readers and collectors of physical media while also aiming to provide a “third space” where community organizations can gather.
The Word Cage also worked with the Kentucky Small Business Development Center in Covington to complete its business plan.
207 W. Pike Street – $10,000 Historic Electric Signage Incentive
Sam Droganes / Sam’s Candy sign
A piece of Covington history will get a new lease on life through a $10,000 Historic Electric Signage incentive awarded to Sam Droganes, owner of the building at 207 W. Pike Street.
The incentive will support the restoration of the Sam’s Candy electric sign, which has been visible along Pike Street for decades as a reminder of the historic candy shop.
Droganes has hired Klusty Sign Associates to restore the sign to its original glory as a tribute to the former candy shop. The work will include replacing the sign’s electric capacitors, cleaning and restoring its surface, and adding a protective covering.
Investing in Covington’s commercial districts
In total, the $52,000 in City funding awarded through this round of Small Business Incentives will leverage a 2.7-to-1 private-to-public investment ratio.
The City’s Small Business Incentive program, administered by the Economic Development Division, is designed to encourage investment in Covington’s commercial properties and small businesses.
For more information about the City of Covington’s economic development incentives and resources, visit thecovky.gov.