Sandusky panel recommends $250,000 loan for Toft Dairy to support freezer replacement and job retention

At its February meeting, the Sandusky Boards & Commissions voted to recommend a $250,000 economic development assistance program loan to Sandusky Toft Dairy Inc., 3717 Venice Road, to fund an expanded cold-storage facility and preserve jobs.

The loan would carry a 0% interest rate and be payable at the end of a five-year term, secured by a subordinate mortgage on the property. The commission’s recommendation says the owner may request forgiveness of the loan if the firm meets a requirement to add seven full-time-equivalent jobs by the end of the term. Director Gilson told the commission the recommendation exceeds the program cap but said the guidelines allow an exemption for “catalytic projects” and that the city manager concurred with that approach.