Born in the South Inc. requests a $55,000 city Commercial Development Area Program loan to complete its Springfield renovations for the 1748 Bakehouse at 1748 N. Main St.
Kurt and Allison D’Aurizio established Born in the South in January. They operate a bakery booth at the Riverside Arts Market, sell My Grandmother’s Pies through the internet and custom bake for several retail locations.
They plan to convert the former Carl’s Restaurant at Eighth and Main streets into a 1,500-square-foot, 34-seat bakery and restaurant at an investment of $295,000. It will create six full-time and two part-time jobs.
The investment comprises $217,000 in space improvements and $78,000 for machinery, equipment, furniture and fixtures. Funding sources comprise a $160,000 Small Business Administration loan through Florida Capital Bank; $47,000 from the landlord; $33,000 in owners’ equity; and the $55,000 CDAP loan.
To qualify for the CDAP, a business must be located in what the city considers an economically distressed area. The 1748 Bakehouse is in a designated Level 1 Economically Distressed Area.
A city summary of the 1748 Bakehouse project said loan proceeds will be made in a lump sum after other identified funding sources are fully paid toward the project and substantial completion of the improvements.
Total repayment over the term will be $63,730 – the principal amount of $55,000 plus $8,700 in interest. Monthly payments would be $531.09 over 10 years.
Fast-track legislation was introduced Tuesday to City Council, Resolution 2018-858.
It requests two readings rather than the three-reading council cycle.
Moe’s Southwest Grill proposes a St. Johns County restaurant at 1681 U.S. 1 in St. Augustine. MSG St. Augustine Land LLC of Jacksonville is the developer. The 2,818-square-foot restaurant is on 1.15 acres.
McDonald’s seeks a permit to demolish its 3,745-square-foot Mandarin location at 11682 San Jose Blvd. to build a new restaurant. Stansell Properties & Development LLC is the contractor. McDonald’s previously applied for permits to rebuild the location at a cost of $805,000, which includes a dumpster enclosure.