The owners of Black Sheep restaurant near Five Points announced in October plans to construct a food kiosk in Hemming Park.
Today, the Downtown Investment Authority approved the restaurant’s application for a $102,000 Retail Enhancement Grant to establish a casual version of the popular upscale Riverside eatery in the former Midtown Deli at 100 N. Laura St.
The five-year forgivable loan will be used to defray a portion of the $686,000 development cost for the 5,000-square-foot space — $375,000 to be borne by the restaurant group and the balance to be covered by the landlord, Farah & Farah.
The scope of the project includes interior demolition and plumbing, electrical, HVAC and exterior improvements.
According to the application, lunch and dinner will be served Monday through Friday with a menu of $9 or more items, such as sandwiches and salads. Dinner service will offer a combination of lunch items and lower-priced entrees intended to appeal to the evening demographic.
Eventually, brunch will be served on Saturday and Sunday, primarily catering to local residents, the application says.
Full bar service and a private dining room seating up to 45 are shown on the design documents.
The owners anticipate sales of $1.04 million in the first year of operation. The application indicates 22 full-time positions will be created initially and up to 40 full-time positions will be in place when the schedule expands to seven days a week within one year of opening.
The loan would be subject to the restaurant being open within one year of the agreement with the authority.
It must be secured by a personal guarantee from the tenant to protect the city’s investment in the event of a default under the program or funding agreement.
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