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EDC reports grants and loans for two downtown eateries; fund balance remains healthy
Summary
The commission reported that Bay 54 received a $38,000 grant and a $32,000 loan and Taco Dolly Cantina received a $22,000 grant; staff said roughly $1.718 million remains in the incentive fund and described upcoming tenant openings across the village.
The Economic Development Commission reviewed recent incentive awards the village board approved for downtown businesses and received updates on several anticipated openings.
Staff reported that Bay 54, a proposed cocktail lounge in the former bike-rack space downtown, received a $38,000 grant and a $32,000 loan (to be repaid over 10 years) to fund ADA improvements, fixtures and interior buildout; the owners also plan a phased rear…
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