Geneva considering $155K in aid to revive Little Owl redevelopment
Geneva is considering offering more than $155,000 in aid to revive the redevelopment of the former Little Owl tavern space at State and First streets.
Aldermen will discuss the plan at a committee-of-the-whole meeting Monday night.
The tavern opened in 1947, and expanded with the addition of the Flagstone bar in 2007. The business closed in August 2019.
The new owner started remodeling it in December 2019, planning to turn it into the second site for the Old Republic Kitchen and Bar. But the project has stalled.
The costs of retrofitting the structure and upgrading its electrical service were cited as reasons in a city memo about the proposal. The two-story building was constructed in 1925.
The city says the electrical service for the entire block is at maximum capacity, and outdated. Old Republic's plans require more electricity.
The proposal calls for the city to grant $51,767 to the restaurant for electrical and other work.
The city would also rebate up to $104,750 of sales taxes generated by the business, over a 10-year period.
The committee meeting is after the regular city council meeting, which starts at 7 p.m. The meeting can be viewed via GotoWebinar, or on the city's YouTube channel.