Times: Sublease for Hercules restaurant finalized after 1-1/2 years

— by Jeffrey Wisniewski — 15 June 2009 — Comments Off

Interesting back-story on the Powder Keg… “Together with the sublease, the council also approved financial assistance of $125,000 to Powder Keg, which will be deducted from the combined principal of $439,356 of two business loans from the agency; they include a $370,000 loan in fiscal 2007-08 for Powder Keg, which opened in August, and the balance of a $75,000 loan in 2006 for another restaurant, Shinsen Sushi, which the owners since have sold. The $125,000 financial assistance brings the principal of the Powder Keg loan down to $314,356.“