City approves Growth Fund loan for The Root
Business described as potential tourism driver
NEBRASKA CITY – Nebraska City commissioners approved a $115,000 Growth Fund loan for Nebraska City Coffee’s plan for a downtown meeting space called The Root.
Director of Coffee Experience Leah DeFreece referenced Ray Oldenburg’s sociology work termed the “third place” saying the new coffee shop at 900 Central Ave. is intended to be a social environment distinct from home and work.
DeFreece: “We have chosen the name The Root. This name reflects personal roots from being from Nebraska City and also the desired place where people can come and share where they are rooted and things that matter most to them.”
The Growth Fund loan will support the $220,000 project, particularly with $90,000 worth of equipment including an espresso machine, grinders and other commercial appliances.
The city council agreed that up to $50,000 of the loan will be forgivable if The Root achieves at least $225,000 in gross operating revenues during the year prior to October of 2029.
Economic Developer Lisa Walker said forgiveness for Growth Fund loans have been linked to job creation in the past, but The Root does not expect to hire more than one full-time manager and several part-time baristas.
Walker: “How do we evaluate success, not only for the company itself but for our community? Obviously bringing in gross income turns into taxes and tourism dollars as well, so that is why the committee chose to follow this path.”
She said the Citizens Advisory Committee recommended the forgivable portion of the loan to encourage the project because of its potential draw for new tourists and an enhancement of visitor and resident experience.
The new coffee shop is expected to open in June.