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Council approves $100,000 economic development loan for Cold Plunge Coffee LLC
Summary
Salt Lake City Council voted unanimously to adopt an ordinance approving a $100,000 loan from the city's Economic Development Loan Fund to Cold Plunge Coffee LLC.
The Salt Lake City Council adopted an ordinance on March 4 approving a $100,000 loan for Cold Plunge Coffee LLC from the city's Economic Development Loan Fund. The motion to adopt the ordinance carried unanimously in a voice vote recorded in the meeting transcript.
Council members offered no recorded conditions or amendments in the public meeting. The item was presented as a loan from the Economic Development Loan Fund; the transcript does not include additional details about interest rate, term, collateral or job-creation commitments in the public presentation.
Implementation and next steps: city staff will complete loan documents and any routine administrative steps to fund the loan under the Economic Development Loan Fund program.
