Tim Ryan, tryan@wolfrivermedia.com
The Shawano Plan Commission on Wednesday recommended approval of a developer’s agreement that would turn the former Crescent Pitcher Show at 220 S. Main St. into a microbrewery and pub.
The agreement with Stubborn Brothers Brewery LLC, of Marion, will provide a low-interest loan and a grant to the brewery, with the money coming from one of the city’s Tax Incremental Finance districts.
Brewery representatives weren’t at the meeting, but Dennis Heling, chief economic development officer with Shawano County Economic Progress Inc., said the owners’ intent was to be a brew/pub, have entertainment and create a viewing area where patrons could see the brewing process.
“Obviously, they would probably have some type of food, small types of food, because they’re not looking for people to just come in and drink beer,” Heling said. “Upstairs their goal is to have a banquet hall, a banquet area where they intend to work with local purveyors of food so those can be catered in. It appears that will be part of their business.”
The developer’s agreement calls for the city to provide Stubborn Brothers with a $270,000 10-year loan at a 4 percent interest rate, and a grant of $80,000.
For its part, Stubborn Brothers is expecting to put about $547,000 in remodeling costs into the project.
“That’s a pretty substantial investment in that old building,” said Eddie Sheppard, assistant city administrator. “It’s kind of a good deal for Shawano if you look at it that way.”
It’s expected the building will have an assessed valuation of $500,000, including personal property, once the remodeling and renovation is done. If it falls below that figure, Stubborn Brothers will have to make a payment to the city in lieu of taxes to make up the difference in property tax revenue.
It’s anticipated the remodeling and renovation will be completed by June.
The Shawano Common Council will take up the agreement on Wednesday.