The Downtown Revolving Loan Committee held a meeting on Wednesday, Jan. 3 and gave conditional approval of a loan for $140,000 to Seva Kitchen which is owned by TAJ Properties (Harvey Singh).  The loan would be for remodeling the current restaurant located at 313 N. Broadway.  Remodeling of the basement of the restaurant to create a food prep station would greatly improve serving times on food items. If approved, a lien on the property will be filed, and the City will have second position behind First Interstate Bank. 

City Council may:

• Approve, or;
• Disapprove

if Council does not approve the loan, renovations may be delayed.

The Downtown Revolving Loan fund currently has cash on hand of almost $900,000 with 2 loans pending.  If both loans are approved, the fund will have a balance of around $450,000. 

The Downtown Revolving Loan committee recommends that the City Council approve a Revolving Loan Fund  loan of $140,000 to Seva Kitchen (TAJ Properties).