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Fredericksburg City Beat

This blog includes news about City Hall, city schools and other 22401 news.

Pamela Gould reports on City Hall. You can reach her at 540-735-1972 or pgould@freelancestar.com. Robyn Sidersky reports on city schools. You can reach her at 540-374-5413 or rsidersky@freelancestar.com.

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Kybecca incentives approved

This didn’t make the paper this morning, but the incentives proposed for Kybecca‘s plan to build a wine and tapas bar at the corner of William and Charles streets passed on a 6-1 vote last night, with Debby Girvan opposed.

Kybecca will invest $2 million over 10 years in the project, which owners Kyle and Rebecca Snyder argue will help revitalize the William Street corridor and turn a former street-level mortgage office into something more interesting to tourists and other visitors.

The incentives total $105,000 over 10 years. That includes a $25,000 grant from the Economic Development Authority, along with $80,000 in local tax waivers over 10 years. After the incentive payout, the project is expected to net the city around $50,000 in new annual revenue.

The first vote on the package showed up unanimous, but Girvan said she had pushed the wrong button, so council repeated the vote, and it ended up 6-1.

Permalink: http://news.fredericksburg.com/citybeat/2008/04/09/kybecca-incentives-approved/

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