City Council oks loan for new Korean Restaurant

Galesburg City Council met last night in a meeting where they approved a loan for a soon to come Korean eatery.
Koreana Restaurant which will be located at 323 East Main Street, at the location where the Knox County Democrats operated out of for the 2016 election cycle.

The revolving loan is $20,000 at 3 percent interest to be paid back over a ten-year period.

The funds will be used to fill in the gaps in leasehold improvements to be made.

Additionally First Mid-Illinois and Bank and Trust has agreed to provide a $80,000 loan with $15,000 line of credit to owners Ok Hyon Curtis and Amber Jordan.

In other property related business the city accepted a donated property from Wells Fargo that will be redeveloped by Project Rebound. 

Project Rebound is a program that works with banks, the city and private investors to rehabilitate homes and arrange for a first-time owner to buy the home for loan interest.

The property marked for this particular development is located at 1361 Harrison St.