There’s a new restaurant coming to downtown Perry.  The owners of Black Market Pizza in Perry were approved for an Urban Renewal Loan from the City recently.  Their plan is to open a restaurant in the old Breadeaux Pizza location.

City Administrator Butch Niebuhr says “the idea is a revolving loan fund at 3% interest.  Basically let the applicant set the terms but we do have kind of a maximum of 15 years.  The gentlemen that took this out for Black Market Pizza asked for $15,00 at a 3 year return, which was the lowest return as far as years go in terms of the loan.”

The funds will be used for interior renovations, painting, signage and some equipment.  It passed in the council unanimously.

Niebuhr says this loan basically taps out the revolving loan fund balance for now, but because of the nature of the fund, money continues to be added to it.