It appears that before long most of the loan payments owed to the city by downtown business owners will have been paid, said assistant corporation counsel Valerie Brown.
Of 12 businesses that were delinquent on downtown facade and interior rehabilitation loans in July, only five haven’t paid their debt, Brown said last week. Of about $54,000 in past-due payments owed in July, about $31,000 is still owed.
But one of the businesses has entered a payment plan to become current by December, a second is negotiating a payment plan and a third plans to sell its building and use some of the proceeds to pay its debt to the city. Once all of those debts are paid, only $4,345.22 will remain unpaid, Brown said.
The city legal department plans to initiate collection procedures against the two businesses expected to still owe the city money, Brown said.
Past-due rents on retailers in the city garage totals about $84,000, said mayoral spokesman Bill Catching. The city is working to collect those debts, he added.
