Malone opens writing, "The owner of the Spring Street Tavern admitted that maybe his bar doesn't fit in the borough and he's looking to get out of town."
And then explains in addition to the complaints at Council by residents:
According to a suit filed July 31, Bayview Loan Servicing LLC seeks $237,027 because of failure to pay on a mortgage Merlo and his father, Ignatius Merlo, signed Jan. 17, 2006.
The tavern's former owners, Salvatore and Catherine Mendisana, filed suit July 25 asking for foreclosure on the property and $43,772 to cover principal, interest and attorney's fees related to the mortgage they signed with Merlo and his father.
Both suits said Merlo ceased payment in January and ask the court to order the sale of the property and distribution of the proceeds.
Merlo said his adjustable rate mortgages matured and his payments almost doubled. He said he needs to refinance the debt.
5 comments:
Well, it seems that the bar will close because of poor management of expenses, not rowdiness or whatever. Sounds like a nice guy, and its always sad to see someone mmke a go at it on his own not make it. I will definetaly stop in and buy a couple beers. Small business owners take huge risks,and make up most of this country, so we should all keep this in mind. Who knows what will happen, maybe Chef Ramsey from Hells kitchen will show up to save the bar( Maybe he should have concentrated on food instead of beer and drinks if he was a chef?)Nazareth needs a good local pub with good food.
There seems to to a revolving door of businesses in the downtown area. Over the past few years I have seen a number of establishments come and go with only a few remaining.
I enjoy walking downtown and visiting the various establishments, but with their declining number, there is not as much draw anymore.
If they don't figure out how to keep these businesses soon, we will soon have a ghost town.
Regarding the downtown, that is exactly the reason why the Nazareth Downtown Association is being formed.
The program is a part of the PA Main Street Program and is just now in the formation process.
I'm serving on the Board and we have a temporary web site available here to learn more about the program in general:
www.nazarethdowntown.com
In the future we'll have services and resources available to attract new business and support those already here.
We will also help to promote the downtown and facilitate grants to property owners to rehabilitate their properties.
There is a lot of potential, but it all takes volunteer effort and money. If you've got either get in touch with us!
info@nazarethdowntown.com
Thanks moderator! I'll look into the downtown website! Nazareth is a unique area with a lot of character, it would be wonderful if more businesses could open & remain open. I agree too with a previous posts-a local pub with good food would be a bonus. There are a few already as we know. I think one problem issue is the metered parking. I know that is why one business i worked for moved years ago, because of the metered parking. That also opens a can of worms because the town benefits from the revenue I'm sure.
Are my personal finances really that news worthy?
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