By Terry Kovarik
The Sturgeon Bay Common Council will consider a motion to approve a loan extension for The Door County Fire Company restaurant. The current owners reopened the 3rd Avenue eatery in 2013 with help from the city’s revolving loan fund. Council member David Ward says the loan extension is the equivalent of a homeowner refinancing a mortgage.
The motion to approve the Door County Fire Company’s loan keeps the current interest rate at 3-percent over five years with a 10-year amortization period. Payments would be made directly to the City of Sturgeon Bay. All other loan terms and conditions would remain the same.