Donna Vogel, chairwoman of the Dane County community development block grant commission, said the group voted unanimously Thursday to defer principal and interest on the loan for one year, The (Madison) Wisconsin State Journal reported Friday.
Vogel said Barry Levenson, majority owner of the Middleton museum and shop, does not have to may payments on the loan until January 2013, when he will make monthly payments of $2,614.63 with a 4.25 interest rate.
However, Vogel said Levinson will be required to add 10 employees to his staff, which is now the equivalent of 2.45 full-time employees, according to the terms of the original loan. She said the original deadline was Aug. 15, 2011, and "the commission is anxious for additional hiring to occur."
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