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Capital Ale House in Fredericksburg will open to the public for the first time Monday at 11 a.m., company president Matt Simmons said today. Date published: 10/31/2008
Capital Ale House in Fredericksburg will open to the public for the first time Monday at 11 a.m., company president Matt Simmons said today. The location at 917 Caroline St. will be the first venture outside the Richmond area for the restaurant and taphouse. It has three Richmond-area locations. Simmons said about 100 kegs and 400 cases of beer were being delivered to Capital Ale to be chilled by Monday’s opening. Capital Ale got a $100,000 incentives package over 10 years from the city of Fredericksburg. The agreement called for Capital Ale to open by tomorrow, but the city agreed to extend that two days. The incentives package is a mix of an Economic Development Authority grant toward the renovations and a waiver of some business license and sales taxes over 10 years. To get the incentives, Capital Ale was required to invest at least $1.5 million in the building it is renting from Joe Wilson, which was formerly the home of Chords bar and restaurant. It has to hire at least 35 full-time and 35 part-time employees, and generate no less than $100,000 in new local sales and meals taxes. Over the course of the 10-year agreement, city officials estimate they’ll bring in $1.7 million in new revenue over the same period they’d be giving away $100,000 in incentives. --Bill Freehling
...to see when this establishment goes under. I say in less than a year.
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