A chandelier created from wine bottles and a wine barrel makes up part of the decor at Sunshine Mill in The Dalles. The City of The Dalles has allowed a revision to the mill’s repayment plan for land and improvements.
A chandelier created from wine bottles and a wine barrel makes up part of the decor at Sunshine Mill in The Dalles. The City of The Dalles has allowed a revision to the mill’s repayment plan for land and improvements.
The Columbia Gateway Urban Renewal Agency is allowing Sunshine Mill to restructure a $100,000 loan payment on property and improvements.
“I think it’s a good solution to a cash flow problem and we’ll know in short order whether they’re able to make it on schedule,” said Councilor Dan Spatz.
Sunshine’s payment was due May 15 but the company notified the agency, overseen by city councilors, that an unanticipated supply chain failure had caused a revenue shortage.
According to a report by Gene Parker, city attorney, the owners of Sunshine Mill, James and Molli Martin, had found a different supplier and were working as quickly as possible to fill orders and restore a revenue flow.
On May 23, the agency approved a revised payment plan submitted by the business.
“As long as the default clause is in there, I’m okay with this,” said Councilor Linda Miller prior to the unanimous vote.
“This is the only logical course to take,” said Councilor Russ Brown.
“The alternative, of course, would be a foreclosure procedure and it would probably take years before we could do anything with the property and we don’t need that nightmare.”
Mayor Steve Lawrence also supported the new plan.
“It’s kind of confusing to see that they have this cash flow (problem) when you go out there and look at that vineyard. It’s absolutely immaculate,” said Lawrence. He was referring to the Martins’ vineyard, Sunshine Mountain, on Emerson Loop Road.
“It’s about as well run as anything you can imagine. It just looks like there’s a great amount of potential there and that just gives me a lot of hope, it really does,” he said.
Under the fourth amendment to Sunshine Mill’s loan agreement, monthly installments of $10,000 —with the exception of October in which $15,000 will be paid — are to be made at a 5.25 percent interest rate until the remaining balance is repaid on Jan. 15, 2017. Terms from the last agreement, negotiated in December 2014, including provisions for default, remain in effect.
Last year, the Martins made the first $150,000 payment toward the principal of the 2009 loan and 2010 line of credit for exterior improvements, a total of about $600,000.
The first $500,000 of that funding went toward opening the mill’s doors to the public. And the company itself has invested more than $700,000 into building improvements, according to a report the company made in 2015.
The project has revamped the 131-year-old mill and warehouse at 901 E. Second Street, and created jobs at the abandoned facility, which provided flour for Cheez-It Crackers.
The mill is now home to Quenett and Copa Di Vino wineries, both owned and operated by the Martins.
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