.

Beachwood's Enlight Advisors Receives Loan, Plans to Move to Shaker

The company expects to pay back a forgivable loan through income taxes within two years

Enlight Advisors, a Beachwood consulting firm that's been on Chagrin Boulevard since 2005, will move to Shaker Heights soon.

Shaker Heights City council on Monday approved a $68,000 Vision Fund forgivable loan that will help Enlight move from Beachwood to Shaker. The consulting firm will add onto a loft office in Shaker Commons on Chagrin Boulevard. President Amy Fulford and partner Troy Meinhard, who live in Shaker Heights, hope to move in by February.

Follow us on Twitter | Like us on Facebook

"It adds to a community we're a part of," Meinhard said following the city council meeting. "I feel good about the fact that all of my taxes will go to Shaker now."

Enlight has been on Commerce Park in Beachwood since 2005. Now, the firm will sign a five year lease to be near the city's fire house and several retailers that have been added to Shaker Commons in the past few years.

The firm has six employees and plans to add two more in the next year. During the span of its five-year lease, the company's income-tax projects are:

  • 2013 - $33,162
  • 2014 - $35,394
  • 2015 - $40,306
  • 2016 - $44,265

"We get a fine new business and a fine tenant for this loft space on the south side of Chagrin," Mayor Earl Leiken said. "We are delighted that (Enlight) will be coming to Shaker Heights."

Fulford is also a member of the Shaker Heights Board of Education.

Councilwoman Nancy Moore told the audience that the loan to Enlight is not a conflict of interest. Additionally, building owner Blue Water Capital is investing $230,000 to improve the office space. 

Enlight, which consults small-to-mid-sized businesses and Cleveland organizations like Team NEO, will be able to pay back the loan in two years. 

Follow us on Twitter | Like us on Facebook

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »