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Brew Pub Agreement Provides Look At Business Plan

Posted on December 3, 2013

Brew Pub Agreement Provides Look At Business Plan

The Tallahassee City Commission will vote on Wednesday to approve an agreement to renovate and lease the historic electric building in Cascades Park.  According to city documents the Commission previously approved funding for the project and a proposal from Liquor Loft, LLC d/b/a Proof Brewing Company (Proof) to renovate and lease the facility for a proposed restaurant.   Proof has assigned their proposal rights to Cascades Holdings, LLC (Cascades Holdings).

The agenda item for the issue states “the agreement sets forth the funding sources from the City (up to $1.3 million), the Community Redevelopment Agency (up to $816,789) and Proof (a minimum of $1,548,286). ”

The agenda item also notes that of the total estimated project cost of $2.1 million, approximately $1.5 million is for renovations of the old electric building.  The balance of $600,000 includes the development of leasable  space in the interior to accommodate a restaurant.

Notable parameters in the agreement includes limitations on outside entertainment (none after 10 PM Sunday –Thursday or after 11 PM Friday and Saturday) and requires the tenant to provide security to prevent loitering outside the premises.

Also, city staff is not recommending any limitation on operating hours at this point.  The agreement does provide a 90-day review period to determine if the hours of operation become incompatible with park usage or cause neighborhood concerns.

The business plan for the venture indicates that 130,000 meals will be served in the first year at an average cost of $12. If the restaurant is open 365 days a year, that would be 356 meals served per day.

The business plan also projects the sale of 155,000 alcoholic drinks in the first year at an average cost of $5. If the restaurant is open 365 days a year, that would be 421 drinks sold per day.

Check back for updates on this story.

 

4 Responses to Brew Pub Agreement Provides Look At Business Plan

  1. connie Reply

    December 3, 2013 at 2:53 pm

    SO NOW ARE THEY GOING TO START HAVING ALCOHOLIC DRINKS IN STATE PARKS AS WELL ?? CAN’T GO ANY WHERE IN TALLAHASSEE WITHOUT THERE BEING ALOCHOL…SAD…
    AND WHO WILL GET THE MONIES MADE FROM THE SALE 5.00 DOLLARS A DRINK CAN ADD UP…TAX PAYERS????

  2. bob fulford Reply

    December 3, 2013 at 10:09 pm

    What are the names of the principals in PROOF and other corps envolved here? What, if anything, came of the connection between Gillam and his campaign treasurer and this deal?

  3. Hope Reply

    December 3, 2013 at 11:03 pm

    When taxpayers are forced to fund a “sweetheart deal” based on a business plan selling alcoholic drinks something is terribly wrong. Since the city has now logged-in documentation of this scheme they are setting themselves up to be forever tied to an establishment for horrendous liabilities when they get sued for selling to underage patrons and/or patrons involved in accidents when sold too much alcohol. This is only the beginning of the burdens to taxpayers that will evolve from this ill thought out scheme.

    How this made it past the FBI, ATF, and Ethics Commission is beyond me.

  4. Paul Reply

    December 4, 2013 at 10:41 am

    5 bucks per drink? Nope. First this mess has to get off the ground before Living Wage gets implemented.

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