This stamp is on the east side of North Fairview Avenue between Fernwood and Saginaw, along with a few more like it on this block. Unfortunately, this is going to be another unsatisfying entry; I haven’t been able to turn up anything about Mel Taylor. The name is just too common to narrow down.
I’m assuming this is not the same Mel Taylor who was a manager with REO Motors in the 1950s, nor the same Mel Taylor who was a minister around the same time. I will have to leave this one unsolved for now.