Last updated on May 13th, 2019 at 02:24 pm
MEDC OKs loan for Boulevard Inn conversion
The conversion of the Boulevard Inn restaurant in downtown Milwaukee to a Bartolotta restaurant has received the financial backing of the Milwaukee Economic Development Corp. (MEDC).
The organization’s Loan & Finance Committee on July 7 approved a loan of $500,000 for Tudy Bart LLC, a business entity owned by Joseph G. Bartolotta and Paul Bartolotta. Joseph Bartolotta will own 81% of the new business entity and be its managing partner, while Paul Bartolotta will be 19% owner.
The MECA money will help the Bartolottas convert the Boulevard Inn in the Cudahy Tower to a Bartolotta restaurant.
It will be the fifth restaurant from Joseph Bartolotta, who has been seeking a downtown Milwaukee location for several years.
Third generation Boulevard Inn owner Gary Strothmann closed the restaurant earlier this month to make way for the Bartolotta operation. Strothmann is leaving the restaurant business.
The Bartolottas expect to have 35 full-time and 25-part-time employees at the restaurant, which will open in October.
Park Bank is also participating in the $1.25 million restaurant project.
In other action, the MEDC Loan & Finance Committee approved a $360,000 loan for Carl Krueger Properties LLC for Carl Krueger Construction Inc., at 6001 N. 77th St., Milwaukee.
Company owner Carl Krueger plans to purchase the building at 60-50-6060 N. 77th St. to expand its current facility.
The general contracting firm specializes in fire restoration.
Other financing for the $900,000 project will come from TCF Bank.
A $120,000 loan was approved for JT Bones LLC, 801A E. Capitol Dr., Milwaukee. The start-up company, operated by James Thompson, is a restaurant that will offer barbecue, catfish, chicken and other southern cooking items.
Thompson will use the MEDC funds for leasehold improvements, equipment and working capital. He expects to hire nine full-time people for the restaurant.
Other funds for the $360,000 project are coming from Legacy Bank.
A $42,000 loan was approved for Rochell Olive-Harmon and Donald Harmon Sr. who own Baby Steps Daycare centers at 2608 N. 17th St. and 2976 N. 21st St. in Milwaukee. The have decided to live separately in each home in order to get the business up and running. They will now also operate a group childcare center at 4825 N. 36th St., also in Milwaukee.
North Shore Bank is also providing financing for the $105,000 project.
In other action, the MEDC Loan & Finance Committee withheld action on a loan request from Umoja LLC, for a Subway Restaurant franchise at 2244 N. Dr. Martin Luther King Dr. in Milwaukee. Owners Walt Buchanan, Rodney Bly and Derek Coleman are seeking $72,000 from MEDC. The loan request was tabled for future consideration.