A grant extension likely to be requested soon by the Economic Development Authority makes sense and should be approved.

The EDA board in December approved the award of a $15,000 Downtown Suffolk Business Launch Competition grant to Wall St. Café, set to open at 118 W. Washington St. by Feb. 29.

Two businesses that were set to use the money decided the timing wasn’t right to accept it, as there is a deadline to use the money. That deadline is Jan. 30.

Because Wall St. Café won’t be open until a month later, the EDA is set to discuss asking the Virginia Department of Housing and Community Development for an extension on its agreement.

Wall St. Café, led by local movers-and-shakers Domenick Epps and Danita Hayes, will be a rather unique establishment in downtown. The combination of café, real estate consultancy and hub for stock market investors will bring a new industry and new clientele, as well as a dash of history — the name is a nod to the Black Wall Street of Tulsa, Okla., where African American business and culture thrived.

We fully support the extension of this agreement through the appropriate channels so that Wall St. Café can receive the grant to help further this unique business opportunity.