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City Council Minutes 2013 03 05
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City Council Minutes 2013 03 05
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3/11/2021 2:44:33 PM
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3/20/2013 7:53:56 AM
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City Council Records
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City Council Minutes
Signed Date
3/5/2013
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7D4
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CCMIN 2013 03 05
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City Council <br /> Meeting Minutes <br /> March 5, 2013 <br /> Page 5of14 <br /> Economic Director DeJong presented a proposed Economic Development Business <br /> Assistance Package (BAP) for Twelve Degree Brewing, for a brewpub to be located at <br /> 820 Main Street. The proposed business assistance is a limited assistance award <br /> compared to other retail agreements, and includes a partial rebate on both the building <br /> permit fees and construction use tax for the needed improvements to the building for the <br /> new business. <br /> The applicant, Jon Howland is considering 820 Main Street Unit 101 (formerly the <br /> Imperial Fez) for the location of a brewery. The business will be a brewpub focused on <br /> Belgian-inspired beers and serving a small menu of high-quality food locally-sourced <br /> whenever possible. Mr. Howland estimates the operation sales above $1 million within <br /> 3 years of operation. Jon Howland was awarded a Business Assistance Package in <br /> late 2011 for Rhino Brewing to be located at 736 Main Street. That project did not meet <br /> the timeframes specified in the agreement and has expired. <br /> Because the downtown area appears to be thriving and is highly desirable for <br /> restaurants, staff has not recently proposed new assistance packages for restaurants in <br /> the downtown area. However, even under these current economic conditions, staff <br /> believes this project should be considered for assistance for several reasons. 1) The <br /> project makes improvements to an existing downtown building. 2) The improvements <br /> will stay with the building and be beneficial to any future uses in the building, and <br /> increase its valuation. 3) A Business Assistance Package was awarded to Gravity <br /> Brewing in February 2012. <br /> City staff estimates Twelve Degree will generate new revenue of approximately $5,100 <br /> from building permit fees and construction use taxes directly to the City in the first year <br /> of operation, given needed improvements to the building. Approximately $400 of the <br /> amount is fees designated for Open Space and Historic Preservation purposes. <br /> Based upon the estimated revenue projection, staff recommends the following: <br /> Proposed Assistance Approximate Value <br /> Building Permit-Fee Rebate <br /> 50% rebate on permit fees for tenant finish $1,500 <br /> (Excludes tap fees) <br /> Building Use Tax Rebate <br /> 50% rebate on Building Use Tax for core and shell and <br /> Tenant finish (excludes 0.375 % Open Space tax <br /> and 0.125% Historic Preservation tax) $1,000 <br /> Total Estimated Assistance $2,500 <br /> PUBLIC COMMENT <br />
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