The Parks & Recreation Committee recommended that the council approve an emergency amendment to a 2022 CDBG Economic Development Revolving Loan for a local restaurant that changed its concept and reopened as 41 Grill and Drafthouse.

Staff told the committee the original loan, made January 22, 2022, was for $300,000 to finance equipment for the then‑Mezzo restaurant. The owners asked the Loan Review Committee to restructure the loan so they can have approximately six months of interest‑only payments while they complete a business-plan transition; after the interest‑only period the borrowers would catch up and resume the previous debt service schedule. Staff said the borrower has been current on payments and currently owes roughly $174,000.

The Loan Review Committee unanimously recommended the restructuring and asked the Parks & Rec committee to forward the recommendation to council with emergency consideration so the loan change can close quickly. One committee member said the restructuring "makes perfect sense" given the owners' history of timely payments and the program’s goal of supporting local businesses.

Committee members agreed and moved unanimously to recommend emergency legislation to council. Staff said the change does not require a new occupancy permit and that the planning commission approved a new sign application for the business.

The committee’s recommendation will go to council for formal action; staff requested emergency consideration to expedite closing the amended loan terms.