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Danville approves $300,000 revolving loan for new downtown restaurant
Summary
The Danville Town Council approved a $300,000 revolving loan (forgivable in increments if conditions are met) to support a restaurant project at 20 West; council emphasized restrictions on use and repayment conditions and passed the resolution 4-0.
The Danville Town Council on Oct. 31 approved Resolution 20-20-25, creating a revolving loan fund and awarding a $300,000 loan to a restaurant project at 20 West. Staff said the loan is structured so portions become forgivable if the business meets operating and tax‑payment conditions over a multi‑year schedule.
Staff presentation noted the loan proceeds are limited to capital expenses — machinery, structural…
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