Tallahassee tax dollars are on the line for an investment in a new restaurant.
The plan is to renovate an old building in Cascades Park and then lease it for a new brew pub.
It sits almost in the shadow of the new amphitheater at the Cascades Park project.
The old building belongs to the city of Tallahassee.
A look inside and you’ll find broken windows, rotting wood, even graffiti, including Bugs Bunny.
“We’re saying, how do we re-use a building and invest in it and hopefully get a return on it and it becomes an additional amenity for the park,” said Tallahassee Assistant City Manager Jay Townsend.
The answer involves more than carrot money.
The city put out a request for proposal to tranform the building into a restaurant.
The first time there were no takers.
A second effort landed what city leaders say is one viable proposal.
Under proposed terms of the yet to be signed and completed deal, the city will invest up to $2.1 million to fix up the building.
The tenant will get one year’s rent free and will pay back the city’s investment in rent over 20 years.
“It’s a risky venture for a private entity to come in there where you have limited parking, you’re in a park like setting,” said Townsend.
The deal is being negotiated with a company called Proof Brewing.
But according to investor Adam Corey who owns “101 Restaurant” in Kleman Plaza, Proof’s role has been reduced from owning and operating the brew pub to providing beer.
He says his newly formed Cascades Holdings will run the restaurant.
Corey is also the treasurer for Commissioner Andrew Gillum’s mayoral campaign.
Corey says they’re unrelated.
“We have been dealing primarily with Mr. Corey.” said Townsend. “Our position as a city is we’re still doing business with Proof Brewing Company,” he said.
Because part of the money to fix the old building comes from sales tax bond money, there will be a public hearing.
That hearing is expected to be scheduled for next month during the city’s budget process.