The Oswego Village Board has approved an agreement with the Oswego Brewing Company that will pave the way for additional investment in downtown Oswego.
The Board heard the details Monday of an economic development incentive award proposed for the Oswego Brewing Company, the highly-anticipated brewery to open in Oswego’s former fire station at 61 Main Street, downstairs from Oswego Cyclery in April.
The package includes $30,000 in incentives designed to offset the significant costs of improvements to the property, plus waivers of permitting fees that would otherwise total approximately $10,000.
Funding for the Award is available through a repurposing of the Village’s façade grant program. The Village expects to receive a return on its investment in approximately two years through the brewery’s sales taxes and TIF increment generated through the site’s increased property value.
“The owners of the Oswego Brewing Company are making a significant investment in our downtown and we are excited to see this project come to life in our community,” said Village president Gail Johnson. “This award is designed to align costs so that we achieve something extraordinary, a new kind of destination spot for residents and visitors to gather in our downtown.”
— Village of Oswego
