City officials: Mahogany's deal still on at The Banks
Photographer: WCPO
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Posted: 02/29/2012
CINCINNATI - City administrators say the Mahogany's deal on The Banks should go through as planned.
Last week an I-Team report raised questions about the credit history of the restaurant's owner, Liz Rogers.
The city advanced Rogers nearly $1 million in loans and grants to open the restaurant at The Banks.
On Tuesday, administrators told council in a memorandum they considered the risk worth taking in order for The Banks to provide a diversity, especially since Rogers personally guaranteed the loan.
Administrators say they based their decision on projected cash flow.
Stay with 9 News and WCPO.com for updates.
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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