WGXC-90.7 FM

New owners secure funding for Cedar Terrace rehab

Mar 19, 2013 7:30 am
W.T. Eckert reports in The Daily Mail Cedar Terrace in Cairo is being offered a $40,000 loan for its anticipated rebirth. The new owners of the former resort, Steven and Julie Freemann, are expected to take possession of the property at the end of the month. The couple intends to open a retail shop, retirement rental units for individuals 55 years and older, a bed and breakfast, along with several of the already existing motel units. The goal is open the retail shop and several motel units in the first year. Financing is expected to come from the Quantum Fund, The Bank of Greene County and Freemanns, personally. The Quantum Fund loan will be secured by a second mortgage on the property. Read the full story in The Daily Mail.
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