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IOWA CITY, Iowa - The City Council Economic Development Committee is recommending Iowa City loan the former owner of the recently shuttered Red Avocado restaurant $35,000 for a new all-vegan restaurant called Trumpet Blossom Café.
The Red Avocado, 521 E. Washington St. #3, was torn down in January to make room for mixed-use residential and commercial development. Owners of the restaurant said they received a 30-day notice to move from the developer on Dec. 30.
According to a loan request that the City Council Economic Development Committee will discuss at their next meeting Thursday, Katy Meyer, former co-owner of the Red Avocado, is requesting funds to start a new restaurant similar to the Red Avocado.
The new location at 310 E. Prentiss St. will have additional seating and a small amount of non-food retail products, according her loan request. The restaurant will host musicians, performers and lecturers on a weekly basis, according to the documents. Meyer has obtained a commercial loan for $117,000, although that loan is contingent on the requested $35,000 from the city. Meyer will contribute $18,000, according to the documents.
She anticipates sales of $435,000, according to her request, and the restaurant will provide catering services for weddings and special events.
The committee recommends the city loan Meyer $35,000, in part, because she has "experience operating an all vegan restaurant," and the lender is comfortable with the projected sales, according to the documents.