The California Coastal Conservancy on Thursday approved a $275,000 loan to the city to complete reconstruction of a restaurant building at the ocean end of the Huntington Beach Pier.
Total cost of reconstructing the pier--severely damaged by driving wind and rain storms two years ago tis month--is now estimated at $1.1 million, said Paul Cook, director of public works. The restaurant building will cost about $360,000 and is scheduled for completion in August, he said.
Terms of the loan include amortization over 10 years at 8.86%, Cook said.
City Engineer Les Evans, who was prepared to plead the city's case for the loan, attended the Coastal Conservancy's meeting in Chula Vista. However, the loan was approved without question or comment, Evans said.
Early last year, the California Coastal Commission and the council approved a two-story design for the restaurant, named the End Cafe after its single-story predecessor, a pier fixture for 40 years.