Pittsfield Finance Committee Recommends Brewery TIF
PITTSFIELD, Mass. — The Committee on Finance is recommending a tax incentive financing agreement with the proposed 41 North Tap Room to the full City Council.
The committee, meeting remotely Thursday, approved the TIF agreement with the proposed brewery and restaurant on North Street that is to opening later than originally expected because of the novel coronavirus pandemic.
"I look forward to being able to go in and try the food and the beer you brew," committee member Peter White said. "I really look forward to having the addition when it is able to open in downtown Pittsfield so thank you for investing in Pittsfield."
Robert Trask, who also owns the 51 Park Restaurant and Tavern in Lee, plans to purchase the former J. Allen's Clubhouse on North Street and invest $1.7 million in the development of a brewery and restaurant.
"I was very impressed with the space and it is difficult to find a large space that has enough room for a brewery and a restaurant and that already has the infrastructure for a kitchen," he said. "Which will help save on a lot of the upfront cost so it was very attractive."
In March, the City Council's Committee on Community and Economic Development approved the Economic Development Fund allocation $150,000 to aid in the purchase of brewery equipment.
The five-year TIF agreement will work similarly to past agreements with 100 percent of the incremental increase in real estate property taxes forgiven in the first year, decreasing by 20 percent a year over the five-year term.
Both incentive programs will only be fully executed if 41 North Tap Room invests the $1,700,000 into the property as well as creating 30 full-time jobs within five years.
Trask said the location seems to be risky and has housed some failed businesses. He said some support would be helpful and noted that the COVID-19 pandemic has not lessened the risk.
"We do need some support to offset some of the early years in addition during this shutdown time across the nation," he said. "It is just another piece that indicates that support is necessary and as we open this business there is going to be some anxiety around social gathering for some time so I think that we have to take that into account."
Director of Community Development Deanna Ruffer said the city can ease some of the project deadlines because of the pandemic.
Trask said a mid-May opening date no longer looks like a possibility because of the pandemic; the governor recently extended the stay-home advisory until May 18. He did anticipate having to adjust some of these deadlines but veered away from specifics with so much unknown in terms of the pandemic and when and how he will eventually be able to open.
"Everything from my standpoint will be on hold until we have some idea of how things are going," he said. "... It will take some time and I am not going to jump in headfirst until we know where we are heading."
On a positive note, he said he sees the location as a community gathering place that will create a synergy with surrounding businesses. He said it will help bring more people to North St. and the influx of jobs will also benefit the city.
City Council will now have to vote on the item.
Tags: brewery, tax incentive,
