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Fredericksburg EDA approves Ale House incentives Date published: 2/23/2008
BY BILL FREEHLING
Capital Ale House received approval Thursday night for a $25,000 grant to help offset nearly $1 million in renovations at its planned Caroline Street location. Fredericksburg's Economic Development Authority approved the grant on a 4-1 vote. It's contingent on City Council's approving the rest of the $100,000 incentive package for the Ale House. Capital Ale House has two locations in the Richmond area and is completing a third. The popular restaurant and taphouse offers lunch, dinner and late-night menus, and a wide selection of draught and bottle beers. "It's not only going to be a destination, it'll promote more economic development," EDA member Richard Pullen said Thursday. Ale House President Matt Simmons was at Thursday's meeting to discuss the company's plans in Fredericksburg. It plans a 10-year lease on the 11,000-square-foot space at 917 Caroline St., the former home of Chords restaurant and bar. Joe Wilson owns the building. He was recently appointed to the EDA but did not vote because of the conflict of interests. Wilson has agreed to loan Capital Ale $300,000 to get started. Simmons said renovation and preservation work is estimated at $950,000. The business plans to take down the yellow-stucco facade on Caroline Street to expose the bricks that likely lie behind. It'll gut the interior, refinish the hardwood floors and leave the original brick and wood beams exposed. "We really like the fact that this is an old building," Simmons said. He wants to "bring it back to as close to what it was as possible." Plans for the building still need Architectural Review Board approval. Simmons said the restaurant plans events around Mardi Gras, St. Patrick's Day and Oktoberfest. It'll have wireless Internet access and be open until 1:30 a.m. Under the terms of the grant, Capital Ale would be reimbursed up to $25,000 as it completes work on the building's facade. Kybecca, which plans a wine and tapas bar next to its store on William Street, got the same grant from the EDA for a heated awning outside. The business ended up using about $18,000 of the grant. EDA member Dana Herlong was the lone dissenter on the Ale House vote. She favored taking more time to study the grant. "I'm not sure we have $25,000 to spend every time someone wants it," Herlong said.
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