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Council approves mutual release on small-business loan after COVID-era struggles
Summary
Parma council approved a mutual release and rescission of a $50,000 CDBG loan to Mamacitas after the business struggled through pandemic-related closures; the administration agreed to accept a lump-sum payment and rescind the remaining balance.
The City Council on Feb. 18 approved a mutual release and rescission of a community development block grant (CDBG) loan made to Mamacitas Inc. The agreement resolves an outstanding municipal loan after the restaurant operator faced financial difficulty following COVID-19 disruptions.
The Community Development director told council staff performed the usual…
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