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Council approves amended revolving-loan agreement to keep Bumble Bread operating in downtown McHenry
Summary
The council approved a fully amended and restated revolving-loan agreement for Bumble Bread Company at 1114 North Green Street, with council members emphasizing support for small local businesses.
The McHenry City Council voted Monday to approve a fully amended and restated revolving-loan agreement for Bumble Bread Company, a small business at 1114 North Green Street, under the city’s revolving loan fund program.
Director Martin told council the city preferred to work with Bumble Bread’s owner to keep the bakery in business rather than pursuing collection on the loan. Alderman Dorey moved to approve the amended and restated agreement; Alderman Cook seconded. The clerk called the roll and the ordinance authorizing the amended loan agreement passed by recorded voice votes with Aldermen and the mayor voting yes.
Councilmembers used the item to endorse efforts to support small, local entrepreneurs. One alderman noted the value of neighborhood shops to the city’s commercial base and said smaller businesses help regrow the local retail mix.
Decision: The revolving-loan amendment was approved as presented; no additional conditions were recorded at the meeting.
Ending: The amendment keeps Bumble Bread operating under revised loan terms through the city’s revolving loan fund, with staff continuing to administer the loan under the new agreement.
