Friday, August 15th, 2014
County seeks to lend funds for new Celina restaurant, factory in St. Henry
By Shelley Grieshop
CELINA - Mercer County Commissioners on Thursday took action on proposed revolving loans to help establish a new restaurant in Celina and a manufacturing business in St. Henry.
Commissioners agreed to notify the public of their intent to request $100,000 in Community Development Block Grants to loan to Good Food Inc. for a fast-food style restaurant to be built at 911 E. Wayne St., the site of a former roller rink.
Public input is requested in writing by 4 p.m. Aug. 29 at the commissioner's office, 220 W. Livingston St., Room A201, Celina.
The loan will help Good Food Inc. buy the 2.3940-acre property, construct a building and buy equipment. The total project cost is $1.25 million. The company also will obtain $880,000 from a private lender and use $270,000 in equity, per the loan agreement.
Good Food Inc. is located at 1662 W. Breese Road, Lima, the site of a Happy Daz restaurant. The company also operates a Happy Daz in Wapakoneta, and several Beer Barrel Pizza & Grill restaurants in the area, including one in St. Marys.
Local officials could not confirm the name of the restaurant to be built in Celina.
Commissioners also on Thursday set 1:30 p.m. Aug. 26 to hear public input on a plan to loan $250,000 to CKRNB Holdings for the purchase of 1.8550 acres of land and a building at 782 Lachey Drive, St. Henry.
The owner of the property, Homer Stachler, plans to sell it to CKRNB Holdings; the owner(s) of the company are not identified in loan documents.
According to the written proposal, CKRNB will continue leasing a portion of the building to Aramark Uniform Services, and lease the remaining area to ITR Manufacturing.
ITR must create 12 full-time equivalent manufacturing/assembly jobs under the loan's requirements.
CKRNB Holdings' total project cost is $865,000. The company will also obtain $439,000 from a private lender and $176,000 in equity, under the loan contract.