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IRA committee recommends $100,000 loan for Ithaca Coffee Company’s new Hancock location
Summary
The committee recommended approving a $100,000, seven‑year loan for Ithaca Coffee Company to open a new Hancock Road location, with underwriting showing manageable risk and additional working capital included in the final package.
The Ithaca Redevelopment Agency committee on Jan. 14 recommended a $100,000, seven‑year loan to Ithaca Coffee Company to support a new location at 702 Hancock, moving the item to the full IRA meeting for final action.
Why it matters: The company plans a bricks‑and‑mortar espresso bar in a location adjacent to planned road and development improvements. Agency underwriting concluded the loan…
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