We know we've been quiet lately but rest assured the Board has been hard at work filling a funding gap and advancing the lending package with our primary lender. Financing for this project is complicated and takes time.

This week we hit an administrative milestone with our bank — we have signed their Loan Proposal document. 

This is not a final loan document, but it does lay out the terms of the lending, which we are in agreement with. There are more steps to come with them, including their underwriting due diligence, before we close on the lending and have funds available to begin construction of our store. But signing this is a key step in the process. 

We also are busy advancing the process with the City for our grant funding. We have their document checklist in hand and are delivering the things they need. Their law department is now drawing up the Redevelopment Agreement (RDA) which we'll review, edit, and then sign the day the City and our primary lender both "close". 

We think about our Owners and community every day and it drives us forward as we do the work to fund our store.