Spectrum Pub LLC Manager Chris Thompson is taking his transformation of the formerly blighted property at 117 S. East St. in Cambridge to the next level with a $360,000 renovation project financed by Farmers National Bank of Geneseo and an $80,000 loan from the Henry County Rural Relief Loan Fund.
Already the home of the popular Hangout and Arcade and rental apartments, The Spectrum Pub will soon feature a covered upper balcony, overhead heat and lighting and seating to overlook the College Square Park across the street.
Event plans include combining with Cross Cultural Connections to hold outdoor concerts and concert series and music festivals. Community leaders see the plans as a perfect draw to further tourism and economic growth into Cambridge. This project will retain 13 full time jobs and create three full-time jobs.
The Henry County Rural Revolving Loan Fund Program, RRLF operates two separate funds and has made 95 loans totaling $6.1 million from its legacy fund, and 35 loans totaling $1.2 million from its economic development fund, which have in return created and retained a combined 1,498 jobs in Henry County, Ill. workforce.
The RRLF monies are available to any new or existing business within Henry County. For more information on the Henry County RRLF Programs contact Jim Kelly, Henry County Economic Development director and RRLF Loan Administrator at the Henry County Courthouse 309-937-3410.
