(A) General provisions.
(1) Eligible businesses are food related ventures such as sit-down restaurants, coffee/tea shops, bakeries, and cafes that generate at least $20,000 in restaurant tax annually.
(2) The restaurant must have the capability to attract customers from outside the community.
(3) Recipient cannot have an existing restaurant location within a five (5) mile radius of the proposed restaurant.
(4) The business must fit well into the existing restaurant economy to provide new and different dining and entertain experiences. Compliance with this requirement is solely within the City's discretion.
(5) Local, regional, and national restaurants may apply if they meet the first four provisions above.
(6) The restaurant must be a minimum of 1,500 square feet inside HVAC controlled dining space.
(7) Expansions, second locations, and relocation would be eligible for incentives if they meet requirements above (aside from the five (5) mile radius) and/or add a minimum of fifty percent (50%) square footage or fifty percent (50%) more indoor HVAC controlled seating.
(8) In order to qualify for incentives, developers/owners must have a minimum five (5) year lease with the property owner or own the location.
(9) No upfront expenditures would be required by the City, and the incentives would only begin upon completion of construction and/or opening of the restaurant for operation.
(10) The developer and restaurant must be and remain in good standing with all ordinances to be eligible to receive incentives.
(11) Incentives are not assignable or transferable without the approval of the City based upon the original criteria.
(12) The restaurant may not be owned by a non-profit entity.
(B) New or renovated restaurants.
(1) Restaurant tax.
(a) The City will refund up to fifty (50%) of the restaurant tax generated by a new restaurant for a period of five (5) years.
(b) The City will refund up to fifty (50%) of the additional restaurant tax generated by an expanded or relocated restaurant based on the preceding three (3) year average of restaurant tax paid to the City for a period of five (5) years.
(c) Second locations would be treated as a new restaurant.
(2) Equipment/interior renovation incentives. The City will reimburse up to $10,000 to each recipient for equipment, furniture, or other tangible assets for eligible restaurants.
(3) Facade/signage grants.
(a) The City will match fifty percent (50%) of total project costs up to a maximum of $1,500 for improvements to the facade or signage of eligible restaurants.
(b) Eligible improvements include:
1. Repair or purchase of new awnings.
2. Removal of non-historic materials assuming the restaurant is located in a historic property.
3. Exterior painting.
4. Exterior lighting.
5. Replacement or installation of signage.
(4) Rent assistance.
(a) The City will reimburse up to fifty percent (50%) of monthly rent with a $400/month maximum.
(b) The rent assistance is available for a period of twelve (12) months.
(Ord. O-2022-21, passed 11-28-22; Am. Ord. O-2023-08, passed 6-26-23)