By Jason Crane
At the Montgomery Village Board meeting Monday, the Board discussed the possible creation of a Mill District Restaurant Stimulus Program.
Rich Young, director of Community Development for the Village shared some of the information he put together listed here:
With the Village searching for ways to add restaurants within the Mill District area, Village staff members thought that a way to potentially jump start this type of investment would be to expand the scope of the Montgomery Development Fund (MDF) program. The expanded scope could include generous incentives to attract restaurant tenants which could include full beverage service and/or microbrewing operations, deli service, butcher shop, cafés, outdoor dining, etc.
New restaurant establishments could be the cornerstone of a Mill District revival, but major capital investment will be needed. Through the use of subsides of between $100,000 and $200,000 for each application, new restaurant tenants could use incentives to upgrade mechanical systems, add kitchen equipment, upgrade needed grease-trap systems, refurbish outdated structures, add outdoor dining areas, or even build a new structure.
Minimum requirements for the Village to provide financing in the form of a grant through the MDF program should include:
• Applicant’s ability to demonstrate that they have successful experience planning, establishing, and operating a restaurant establishment.
• Any proposed establishments should provide at least full lunch and dinner service.
• Applicants should be willing to provide a family-friendly environment in their restaurant with dining spaces separate from bar area.
• Preference should be given to restaurants that emphasize the use of farm-fresh ingredients, locally sourced produce and other health-conscious options.
• Proposals should include a detailed statement identifying the owner’s goals and objectives.
• Applicants will be required to describe the economic impact of the proposed establishment, including the anticipated number of jobs that will created.
• Applicants must delineate how the grant funds would be utilized and have a full business plan which identifies how they will secure the additional capital needed to create the establishment.
• The business plan must demonstrate the fiscal ability to complete the establishment of a restaurant and begin operations. Additional financial information may be required. All business plans and financial information should be reviewed by the MDF Committee and the Village Board but remain confidential.
The focus on dining in the Mill District would mark a new direction in the Village’s sense of community and economic strategy. A recent edition of the publication “Downtown Idea Exchange”, noted that “food and drink are key parts of any thriving downtown. The addition of outdoor dining brings added benefits for individual businesses and the downtown as a whole.”
Similar to the sales tax and fee rebate programs already in place for vacant commercial buildings and new single-family residential home construction, staff would like to review with the Village Board consideration of a program that would hopefully add needed restaurants within the Mill District. If approved, this addition to the MDF program enhances the likelihood of increasing the activity level within the heart of the downtown and would provide a greater sense of community.