city of San Antonio


Some of our meetings have moved. View additional meetings.

File #: 15-2243   
Type: Staff Briefing - Without Ordinance
In control: Westside Development Corporation
On agenda: 3/25/2015
Posting Language: Discussion and possible action on a recommendation to the Board of Directors regarding a request from JVGreen Enterprises, LLC., to refinance a loan in an amount up to $28,050.
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
No records to display.
ORGANIZATION:  Westside Development Corporation (WDC) - Project Committee
SUMMARY:
JVGreen Enterprises, LLC., is currently delinquent on its $25,000 note with the WDC. Staff has been negotiating new terms to bring the account current.
The committee will review the revised terms and provide a recommendation to the Board of Directors.
BACKGROUND INFORMATION:
General
JVGreen Enterprises, LLC., dba Deco Pizzeria, secured a $25,000 loan in December 2013 from the WDC for the purposes of constructing an outdoor pergola to improve the outdoor dining space and interior renovations.
The principal payment was due in 2014 upon reimbursement from the City of San Antonio's Operation Facelift Fund. As of now, the principal remains outstanding.
Staff has worked diligently to develop terms to secure repayment without causing undue hardship to the current operations.
ISSUE:
None
ALTERNATIVES:
None
FISCAL IMPACT:
RECOMMENDATION:
Staff recommends approval.
MRH - 150325 - Project - Item 7 Memo