Redevelopment Authority to consider forgivable loan for Rupp's Downtown
The couple is seeking a $250,000 forgivable loan from the City of Sheboygan
SHEBOYGAN — For the second time in three weeks, the Sheboygan Redevelopment Authority will consider approving a forgivable loan for two perspective buyers of Rupp's Downtown.
WKTS News first reported that Samuel Melei and Diedre Martinez are looking to purchase the Downtown Sheboygan supper club and modernize it. The project is estimated to cost just over $1 million according to Melei. Due to scale of investment, the couple originally requested $537,000 from the city’s Revolving Loan Fund, which helps fund business development. During the meeting on June 4th, the Redevelopment Authority voted to table the request.
RELATED: Couple plans to purchase and transform Rupp's in Downtown Sheboygan
The couple is returning to City Hall on Wednesday, June 18th with a revised request of $350,000. According to documents filed with the City of Sheboygan, Melei and Martinez are requesting $250,000 of the $350,000 loan to be forgivable. Martinez is the CEO of the Sheboygan County Chamber of Commerce, a role she has held since December 2017. Melei is an attorney and serves as the Municipal Court Judge for the City of Sheboygan and Village of Kohler. He was first elected in April 2024.
They are proposing to hire 30 workers within the first two years. According to the city, they submitted a solid business plan with multiple revenue streams and creative concepts for maximizing revenue. In addition to renovations to the restaurant, they plan to remodel four apartments in the building. The restaurant was listed for sale in April 2024 and the current asking price is $799,000 for the 8,972-square-foot building.
According to the city, available loan funds are being rapidly depleted.
Follow WKTS News on Facebook and X for the latest local news.