TROY — Troy City Council will consider a small business development loan for Smith’s Boathouse Restaurant and other agenda items at its regular meeting at 7 p.m. Monday at City Hall.
The finance committee OK’d the request for $126,875 from the city’s small business development revolving loan fund for a new bar area at Smith’s Boathouse Restaurant at the marina at Treasure Island. The loan would be used to install a new bar area in the middle of the restaurant to seat more than 60 people. The current bar area would be turned into a small dining area. The new bar area is expected to increase sales by 15 percent.
The loan repayment term is 10 years of monthly principal and interest payments with 3 percent simple interest. The first six months would be interest-only payments during construction.
The loan also includes a contingency clause to forgive up to $49,900 for the building improvements, which city staff reported will stay with the building if the ownership should change hands. The restaurant does have another loan of $152,300 from 2016. That loan has had $13,349 paid thus far. The first loan request was for restaurant equipment, furnishings and other equipment.
The two loans, if approved, will be combined at a later date.
The city owns the Marina building at Treasure Island Park. The building underwent renovation in 2015 for approximately $959,000. Smith’s Boathouse Restaurant business opened in November 2016.
Emergency legislation is requested. The loan includes closing fees.
Other agenda items include:
R-4-2018 Agreement with Arcadis U.S. Inc. to design a UV system replacement at the Wastewater Treatment Plant for $128,700. First reading. The current UV system was installed in 1997 and needs replaced.
O-5-2018 Dedication of right-of-way at West Water Street, North Elm Street, West Water Street and North Adams Street.
O-6-2018 Amend sections of the sewer pre-treatment ordinances to meet requirements of the EPA.
O-7-2018 Declare certain property as surplus and authorize the sale of the property. Property includes: 1999 Ford truck 350XL Super Duty 4×4 with utility bed; 2000 Dodge Durango; 1996 Jeep 4 x 4 Cherokee; 1996 Dodge Ram 2500; HP Plotter Z6100 42-inch. The report states staff intends to use GovDeals to advertise and auction off the property.
O-8-2018 Amend ordinance related to curfew of minors
The proposed changes include: all minors under the age of 18 will have the same curfew hours; hours to be changed with curfew being in effect 11 p.m. to 6 a.m. Sunday through Thursday and midnight to 6 a.m. Friday and Saturday night. Miami County’s curfew for minors under the age of 18 is 11 p.m. to 6 a.m. Troy’s current curfew is 10 p.m. to 6 a.m. for minors under the age of 14 and 11 p.m. to 6 a.m. for minors ages 14-17 with exceptions due to after-school activities.
O-9-2018 Rezone 8.015 acres (North of Finsbury Lane) from Agriculture Residential to R-3-B Single Family Residential district. Public hearing set for Feb. 20.
O-10-2018 Amend zoning code to establish Downtown Riverfront Overlay District. Public hearing set for Feb. 20.
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