News Column

Public Square building owner seeks Watertown Trust loan

June 12, 2014

By Craig Fox, Watertown Daily Times, N.Y.

June 12--WATERTOWN -- The Watertown Local Development Corp. will discuss approving a $137,500 loan next week for the owner of a deteriorating Public Square building that, in recent years, housed a series of Mexican restaurants.

The WLDC's loan committee unanimously approved the loan on Wednesday for the building at 63-65 Public Square; the full board will consider it at next Thursday's meeting.

Donald W. Rutherford, CEO of the Watertown Local Development Corp., also known as the Watertown Trust, will meet on Monday with building owner Vonnette Monteith to discuss the planned renovations.

Most recently, Tico's Mex Mex Grill operated in the storefront but closed two years ago and relocated to Great Bend.

He said the building was "left in a disaster," and needs a lot of work. Ms. Monteith, who has served in the military in Korea and now lives in Louisville, Ky., already has a contractor ready to work on the building, She hopes to proceed as quickly as possible," Mr. Rutherford said.

She still owes $16,500 on a previous loan with the Watertown Trust. Under the loan agreement, that loan would be consolidated with $121,000 in the new loan, he said.

The building's facade has been falling apart for some time, and there were some unspecified interior problems. Tenants are now renting the upper-floor apartments.

Before it was Tico's, the building housed Sol Latino and Casa de Flor. For several years, it was Kegler's Lounge and Restaurant.


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Source: Watertown Daily Times (NY)

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