OBSERVER Photo by Gregory Bacon Pictured are members of the Chautauqua County Industrial Development Agency at the board’s recent meeting at the SUNY Fredonia Technology Incubator in Dunkirk.

With the cost of materials going up, the Bemus Point Inn Restaurant has been given a second loan to complete its planned expansion.

During the Chautauqua County Industrial Development Agency meeting, board members approved a $125,000 loan to Bemus Point Inn Inc.

Rosie Strandburg with the county IDA noted that last year Bemus Point Inn received a loan through the U.S. Economic Development Administration when it provided the county IDA a $10.5 million grant through the CARES Act. The intent of the grant was to provide capital, in the form of low-interest loans, to both businesses and non-profit organizations as a means to respond to economic injury resulting from the COVID-19 pandemic.

The 2022 loan was for $250,000. Due to construction costs increasing and inflation, the loan was not enough. “They’ve approached us for a second loan in the amount of $125,000 for working capital,” Strandburg said.

She added the IDA’s Loan Committee reviewed the request and gave its support.

Richard Dixon with the county IDA noted that the Bemus Point Inn Restaurant has expanded from breakfast and lunch and is now serving dinner. “They also got their liquor license. … The menu looks fabulous there. I encourage everyone to go out and try it,” he said.

County IDA Board Chairman Gary Henry said it’s important for the IDA to help businesses succeed in today’s economic challenges. “They’re in difficult situations but they also have the opportunity to bring so much to our communities, whether it’s restaurants we enjoy or the jobs that we have. It helps all of us when these businesses do well. It’s exciting when we do have an opportunity to be a part of these businesses that are growing, pulling in more people, and get involved in our communities,” he said.

The loan was unanimously approved.