A new Sinatra-style steakhouse coming to Downtown Gainesboro thanks to a UCDD loan.
Cassie and Pete Kessler, the owners of the Stolen Coin restaurant in Gainesboro, plan to open the Board Room Steakhouse with funding from a $100,000 loan. UCDD Business Lending Manager Mindy Trammel said the Stolen Coin received a UCDD disaster loan in 2021, and they now have the chance to open another restaurant.
“Cassie and Pete have told me, they said you know, Bull and Thistle closing has actually not helped the community,” Trammel said. “This will help the community. Instead of you know, having more business because of being one restaurant, this gives them more business having more choices. It brings more people to town because they know they’ll always have some sort of option to go to.”
The Board Room will occupy the former Bull and Thistle location. Trammel said the loan will be at eight percent over ten years, with an estimated monthly payment of some $1,200.
Trammel said UCDD will take a second lien on the Stolen Coin Building as part of the agreement.
Trammel said the total project cost is some $10,800, and the Kesslers will fund the extra $10,800 not covered by the loan. Trammel hat money will go to toward initial stock of consumables, operating capital, marketing start up, and administration costs. She said the Kesslers will also cover closing costs and ather expenses related to acquiring the property.
UCDD Executive Director Mark Farley said the Board Room’s arrival in Gainesboro is part of a larger project.
“There is a developer in Nashville that has ties to Gainesboro and Jackson County that’s redeveloping the hotel and the strip right through there,'” Farley said. “It is a piece of a larger puzzle that’s being put together there.”
Trammel said the new steakhouse will offer charcuterie boards and dessert boards. With the new restaurant, Trammel said there will be a couple of changes to the Stolen Coin’s menu.
“In it, they have changed their shrimp and grits to be renamed ‘Randy’s Favorite Shrimp and Grits,’ in memory of Mayor Heady,” Trammel said.
The Stolen Coin in Gainesboro serves oysters and fresh seafood, among other dishes. Their loan to open the Board Room was approved at Wednesday morning’s UCDD Executive Committee meeting.
