The Metropolis Council of Aurora at a gathering on Tuesday permitted a mortgage of $ 75,000 to assist a brand new Soul Meals restaurant, referred to as Soul Spot, open at Fox Valley Mall.
The restaurant can have the identical cooks and proprietor as Mandy’s Soul Meals Kitchen, who was in Bolingbrook, however is now closed, in line with a Fb publish of town of Aurora. The Soul Spot will even have the identical menu because the outdated Delicia Bowling restaurant with meals resembling crispy southern fried rooster, pork chops suspicion, macaroni with baked cheese, buttery corn bread, salty greens, candy potato cake and extra, the publish mentioned.
In February, Aurora introduced that Bowling’s new restaurant would come to Mall Fox Valley after signing a contract for the area beforehand occupied by Tilted Kilt Pub & Eatery, which closed in 2017.
The mortgage of $ 75,000 of town to the restaurant was permitted by the Metropolis of Aurora as a part of the consent agenda of the assembly on Tuesday, which is mostly used for routine or non -controversial gadgets which can be permitted with a vote and with out dialogue as a substitute of needing to vote and speak about every particular person aspect.
The funds for this mortgage will come from the Aurora Transformation Fund, which was created utilizing $ 9 million of the $ 16 million that town obtained from a reurbing settlement with Cyrusone final yr to construct a second location within the information middle within the metropolis.
The fund was designed for financial improvement, with the concept that the funds can be borrowed and reimbursed with pursuits, which made it perpetuate, beforehand mentioned town employees.
The soul spot mortgage will probably be returned to town for 3 years utilizing gross sales taxes and taxes on meals generated by the enterprise, and the mortgage is personally assured by the property of the Soul Spot, in line with a report of the personnel on the mortgage included with the Tuesday’s agenda.
It’s estimated that the restaurant will earn at the very least $ 1 million in gross sales every year, which might produce $ 37,500 in taxes to the mortgage yearly, mentioned the employees within the report.
Along with town’s mortgage and an funding of $ 380,000 by means of the workforce and heritage by the restaurant proprietor, Fox Valley Mall can also be placing $ 112,000 within the soul place, in line with earlier reviews.
The same settlement not too long ago permitted by the Metropolis Council of Aurora gave $ 450,000 on loans to assist open a restaurant impressed by Soul and New Orleans Meals. That restaurant, which can open within the rebuilt terminal constructing within the middle of Aurora, will probably be owned by chef Jamie Gilmore de Lizzy J Cafe in Chicago.
rsmith@chicagotribune.com