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Board approves $10,000 forgivable loan for Bailey’s Place, a new LGBTQ+ friendly restaurant and bar
Summary
Rutland aldermen approved a $10,000 forgivable loan and referral for additional secured financing to support Bailey’s Place, a new LGBTQ+ restaurant and gathering space at 13 Evelyn Street.
The Rutland City Board approved a $10,000 forgivable loan and referral to Heritage Family Credit Union for up to $50,000 in secured financing to support Bailey’s Place, a new restaurant and community space the applicant described as welcoming to LGBTQ+ residents and visitors.
Barbara Spalding (RRA) presented the application and said Bailey’s Place represents over $100,000 in private investment to date and met the RRA program criteria for business-assistance support (more than $20,000 in new financial investment). Applicant Faith Ann McClure, 21, described the establishment as a safe community space and said opening events have already drawn robust local interest.
Alderman McClure recused herself from the vote because she is the applicant’s relative; she stated she would not vote but offered a non-voting statement of support. The board approved the loan and referral on a voice vote after a brief discussion of the program’s funding balance; the RRA reported approximately $230,000 remained in the program fund.
Spalding said the RRA recommended approval and that staff would handle closing steps and the referral to Heritage Family Credit Union for the secured loan process. The forgivable-loan program requires documentation of investment and job/operations commitments in the RRA program file.
Bailey’s Place is expected to open with food and beverage service and programming the owner said will foster community connections and safe gathering for diverse residents.
