The owner of the now closed Mahogany's Restaurant at The Banks is asking Cincinnati to reduce the amount of her outstanding city loan. She also wants the city to sell her furniture and equipment from the facility for $8,000.
Update 09/29/2014 at 8:00PM: Cincinnati City Manager Harry Black told council members in a memo Monday evening he will meet with Mahogany's owner Liz Rogers.
"Due to threatened litigation, I have been intentionally measured in public statements on this subject," Black wrote in the memo. "To be clear, I intend to meet with Mrs. Rogers, soon, in order to discuss this situation."
Black told council he would report back on the results of his meeting with Rogers, and seek direction on how to proceed.
Cincinnati administrators are not willing to cut a deal with the owner of a now closed restaurant at The Banks.
Liz Rogers, through a weekend letter from her attorney, asked the city to forgive her $300,000 city loan and allow her to purchase the city funded restaurant equipment for $12,000. In return she would re-open her Mahogany's restaurant at another city location within 120 days.
City spokesman Rocky Merz provided the following e-mail on the issue Tuesday morning.
The owner of a troubled restaurant at The Banks development said Tuesday she is looking for a new location. Liz Rogers gave a prepared statement about the future of Mahogany's during a press conference at the facility.
"We find that we are in the midst of a climate that is not conducive to successfully executing our business model here at The Banks,” Rogers said. “We have determined that our restaurant model is not a fit for The Banks development and we are interested in relocating.”