ANAHEIM : City Loan OKd for Restaurant Owner
The city’s Redevelopment Agency has agreed to loan $210,000 to the owner of an Anaheim Hills restaurant so he can open an eating place downtown.
Yves Masquefa, the owner of Yves Bistro/Anaheim Hills, said he will open his new restaurant in the Wood Bridge Village this fall. The village, which was developed by the agency and is owned by Wood Bridge Village Ltd., is at the corner of Lincoln and Anaheim boulevards.
Agency officials say they have set up the interest schedule to induce Masquefa to pay off the loan quickly. If the loan is repaid within five years, the interest rate will be 6%. If it is repaid in six to 10 years the rate will be 9%, and if it is repaid in 11 to 15 years the rate will be 12%.
The loan is secured by the restaurant building and its furnishings, agency officials said.
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