Newbury Street landlord sees light at end of his moneypit of a tunnel; begs more time to keep his liquor license

The owner of the shuttered Ciao Bello on Newbury Street at Fairfield yesterday asked the Boston Licensing Board to let him hold onto the liquor license he holds but isn't using, saying he is close to getting an SBA loan that will, he promises, finally let him finish what turned into a multi-year renovation project.

Joseph Cimino's attorney, Stephen Miller, told the board that "multiple national chefs" have expressed interest in leasing the marquee space, but only after Cimino finishes the work. Cimino himself added that he might still want to run the restaurant on his own rather than leasing it out - he says he'll decide that after the place is actually ready for still more work to turn it into a high-class restaurant.

Cimino last year sold the liquor license for another shuttered restaurant in the same building for $400,000 to try to finish the work, which has involved a city requirement to install an elevator, adding extensive ductwork and doing major electrical work and exterior renovations, all while maintaining the building's character as part of the historic Back Bay.

But it turns out the work will take another $1.2 million, Miller said, adding that, in the meantime, Cimino's bank has stopped doling out any more money for the work. "This has been one step forward and two steps back, and the more you get in, the more work has been required," Miller said.

Miller said he is optimistic Cimino will soon get a $5-million loan, guaranteed by the SBA, to finish the work and then turn the place into a functioning restaurant.

The board votes Thursday on whether to grant Cimino yet another extension on his license. Theoretically, holders of liquor licenses are required to use them or lose them, but the board has traditionally given license holders who show up to explain themselves additional time to either start using the license or sell it.