The developer, Integrity Commercial Group LLC, plans to invest more than $5 million on this property and build a three-story building with mixed uses. The first floor will contain restaurant uses; the second floor will include offices; and the third floor will offer event space options.
The economic development agreement consists of:
- developer agrees to purchase land for $500,000;
- developer agrees to construct just over 20,000 square feet in new construction;
- developer agrees to commence construction within 18 months of the executed economic development agreement;
- city agrees to demolish existing building and pavement and then convey land to developer;
- city agrees to offset all building permit-related fees, except impact fees, and reimburse, through a grant, hardscape and landscape costs, not to exceed $200,000; and
- city agrees to reimburse the costs of the public restrooms, catering kitchen and event space.