Eatery Owner Seeks Redevelopment Loan

The owner of downtown Moorpark’s newest restaurant has also become the first businessman to ask for a loan from a new redevelopment agency program aimed at sprucing up the city’s former shopping district.

In fact, Mark Bailey’s request for $25,000--to help cover the costs of some equipment and furnishings at Red River Steak & Fish restaurant--came in before the agency’s board had even finalized details of the loan program.

The Moorpark City Council, acting as the agency board, is scheduled to discuss Bailey’s request tonight. Immediately afterward, the board is scheduled to vote on the final shape of the loan program, setting the conditions for securing a loan.

Steven Hayes, the agency manager, has recommended that the board approve Bailey’s request but not view it as setting a precedent for how future loans should be handled.

The reason, he said, is that Bailey’s request does not quite meet all of the proposed guidelines for the loan program. Much of the work Bailey wants to pay for with the loan money--installing air-conditioning ducts in the restrooms, building storage cabinets--is already finished, whereas Hayes wants future loan applicants to ask for the money before starting construction.

“It just gives us better control over the loans,” he said.

However, Hayes said Bailey’s request should proceed to a vote because the restaurant owner applied months ago.

The agency set aside $250,000 in November 1996 for loans to new and existing businesses in downtown Moorpark. Although other business owners have inquired about the program, Bailey is so far the only person to apply, Hayes said.