Nature’s Bin and its parent company Cornucopia — the Lakewood-based natural foods grocery store — got a boost from the city of Lakewood on Monday.
City council OK’d a $75,000 economic development loan for the company’s expansion into the site of the former McDonald’s site, where Nature’s Bin looks to expand its job training programs, catering service and office space.
“I think Cornucopia is an important stakeholder in our community,” said at-large councilman Ryan Nowlin.
The loan — approximately 12 percent of the total $618,000 project — is “forgivable over five years as long as (the) project meets job creation goals.”
“We’re in the final stages,” said Scott Duennes, the executive director of Cornucopia, following council's approval.
He said a number of organizations have stepped forward with grant funding for the project.
“It’s going to happen.”
Duennes, who told Lakewood Patch earlier this year that the company was running out of space, said the company hopes to take possession of the property as soon as Nov. 1.
First, McDonald’s will “de-arch” the building, a process that the fast-food giant is paying for.
The renovated space is expected to open sometime in early 2013.
“We’re excited about them being able to take over that space,” said Dru Siley, the city’s director of planning and development.