Board approves ownership transfer paperwork for Bella Costa; ABCC and lender issues prompted stock transfer

The Board of License Commissioners voted unanimously April 28 to approve a change of officers, directors and stockholders for Bella Costa restaurant at 147 Kitchituitet Road, reflecting an internal stock transfer that arose from lender requirements and prior ABCC action.

Attorney Matthew Porter, representing the buyers, told the board that the buyer group — identified in the filing as MerPath Restaurant Corp — had initially obtained ABCC approval but then encountered a change in U.S. Small Business Administration lender policy that required an intra‑family stock transfer. Porter said the stock transfer makes the buyer’s spouse the 100% owner on the filing. “There’s no change to the proposed operation of the business whatsoever,” Porter said; he told the board the change was a paperwork step to satisfy the buyer’s lender so the transaction can close.

The board asked questions about the ABCC form and one commissioner noted a clerical checkbox that referenced wines and malt versus all alcohol; Porter said he would correct the form and resubmit the clarification to administrator Audra Shaw. The board recorded that, once the ABCC and closing are complete, there would be no operational changes at the restaurant.

A motion to approve the changes — conditioned only on payment of required fees and taxes — was seconded and passed by roll call, with all five commissioners voting “aye.” The administrator will file the board’s vote and the corrected paperwork for the city record and forward the update as needed for ABCC handling and final closing.