Gun Barrel City EDC approves up to $400,000 to help Soulman's Barbecue renovate vacant Main Street building
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Summary
The Gun Barrel City Economic Development Corporation and city council approved a performance-based assistance package for Soulman's Barbecue to renovate the former Whataburger at 938 Main Street. The package combines grants and a loan, is tied to a certificate of occupancy, and includes hiring expectations and building renovation commitments.
The Gun Barrel City Council on Oct. 28 adopted Resolution R-2025-008 approving a package of economic development assistance of up to $400,000 for Soulman's Barbecue to renovate and reopen a vacant Main Street building.
City Manager Dr. Smith introduced the item on behalf of the EDC and said the assistance is intended to fund building renovation and permanent upgrades to Main Street. Under the performance agreement described at the meeting, qualified expenses will be verified before payments are made. The agreement includes an initial grant of $250,000, a $100,000 loan amortized over seven years at a stated 5% interest rate, and an additional $50,000 grant that becomes available on the one-year anniversary of the certificate of occupancy, subject to performance terms.
A representative of Soulman's Barbecue (company representative present; name not specified in the public portion of the record) said the company had purchased the former Whataburger building at 938 Main Street and described the chain as fiscally conservative and owner-operated. "We paid a premium for this building because we like the spot. It is an older building that's gonna take quite a bit of renovation," the representative said. He described Soulman's as a long-standing brand with plans to hire locally.
Council discussed the EDC's review and the project's local economic benefits; the resolution passed on a unanimous recorded vote.
Why this matters: The assistance is tied directly to renovation work and a certificate of occupancy, and the project reuses a long-vacant commercial building on Main Street. The council and EDC framed the package as an investment in downtown revitalization and local job creation.
The resolution and performance agreement specify an expiration date for the agreement if a certificate of occupancy is not obtained (December 2026 for the CO deadline as discussed); disbursements are conditioned on verification of qualified expenses.