The effort to reopen the former “Ladder House” pub & restaurant took a positive step forward Tuesday evening with the approval of a $200,000 low interest loan during the Sturgeon Bay City Council meeting. The money obtained through the city’s revolving loan fund was requested by local businessmen Ken Glasheen & Steve Sauter who intend to re-open the former firehouse & city hall, under the direction of Paul Salm, perhaps as early as the first quarter of next year. The loan comes with a 3% interest rate & a five year payback plan with a 15-year amortization period. As part of a series of requirements, Glasheen & Sauter agree to create 16 full-time equivalent jobs within three years of the loan closing. The “Ladder House” has been closed for the past couple of years.
