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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

Low-income housing gets federal financing

The Federal Home Loan Bank will kick almost $1.1 million into three area housing projects for low-income, elderly and disabled tenants.

Half the money, $530,941, was awarded to Bank of America to help finance the Talon Hills Senior Apartments in Liberty Lake.

The project will provide 60 living units to the elderly with household incomes less than 60 percent of the area median income, or about $26,000 for an individual or $29,400 for a couple. A community center, walking paths and space for individual gardens will also be included.

The total cost of the project is $6.5 million.

Washington Trust Bank received $296,700 to support Market Street Station, an apartment project at 5101 N. Market in Hillyard.

Darryl Reber, executive director of Inland Empire Housing Resources, said the FHLB funds are the final piece of a $4.5 million finance package that includes other federal, state and local contributions.

Of the 33 units, he said, four studios and five one-bedrooms will be set aside for tenants with incomes less than 30 percent of median income, or about $13,000 for an individual and $14,700 for couples. The remainder will be available to those with incomes one-half the median, or $21,400 and $24,500 for individuals and couples, respectively, he said.

There is room for ground-floor retail, Reber added.

The four-story structure will replace a former U.S. Bank branch. The vault will be kept for document storage, Reber said.

Golf Savings Bank and Sterling Savings Bank will dedicate their $240,000 to a 20-home development in Inchelium.

Elena Bassett, executive director of the Colville Indian Housing Authority, said bids for the project could be let this month, with occupancy possible before the end of the year. Total funding is $5.1 million, which will cover the costs of new infrastructure, including a water holding tank, she said.

“We have a lot of work ahead of us this year,” Bassett said.

The lease-to-own units will be available to residents with one-half median income or less.

New company distributes fishing gear

Coeur d’Alene-based Castaway Fly Fishing Shop has also become the exclusive U.S. distributor for the acclaimed Loop Tackle Design line of fly fishing equipment.

The new North Idaho-based company is Nordic Fly Fishers, USA, LLC, and it will be run by Joe Roope working with a group of investors.

Roope is owner and manager of Castaway Fly Fishing Shop at 1114 N. Fourth St. in Coeur d’Alene. Roope’s father, the late Joe Roope Sr., started the shop more than 40 years ago.

Loop Tackle Design AB was started more than 30 years ago in Akersberga, Sweden, by company CEO Christer Sjoberg.

Loop Tackle Design has a reputation for innovative fly tackle designs and high-quality manufacturing.

Nordic Fly Fishers, using Web sales and retail partners, will focus on selling single- and double-handed fresh and saltwater fly rods, fresh and salt water fly reels, waders, fishing jackets, vests, fly lines, warm- and cold-weather base layer clothing and accessories.

Roope said the company will add a Northwest-based product warehouse in North Idaho, adding at least one new job to the economy.

Shop sells kits for vapor ‘smoking’

Spokane’s first full store devoted to nonsmoke cigarettes, The Vapor Lounge, is open for business weekdays at 707 W. Main, on the second level of the Crescent Court building.

Owner Travis Jent opened the store the day after Thanksgiving.

It sells nonsmoke smoking kits that use batteries and liquid tubes to produce a vapor “smoke” that allegedly removes noxious products produced by burning tobacco. The inhalation produces a water vapor that contains nicotine but nothing else, Jent said.

Jent started the business after trying the product himself. It helped him break a cigarette-smoking habit of 15 years, he said.

The kits, originally made in China, include a smoking tube slightly longer than a cigarette, which includes a battery and a liquid filter. The liquids come in more than 50 flavors, he said.

Kits start at $100. He also sells kits for pipes and cigars.

His lounge also has a small coffee bar. Jent said downtown workers and other “converted” vapor smokers can drop by during business hours, from 10 a.m. to 6 p.m.

Staff writer Tom Sowa contributed to this report. Here’s the Dirt is a weekly report on new developments and business openings, closings or movement in the Inland Northwest. E-mail business@ spokesman.com or call (509) 459-5528.