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Lockwood Distilling seeks $350,000 TIF incentive for downtown Garland restaurant
Summary
Lockwood Distilling Company proposed leasing 5,000 square feet at 532 Main St. for a tasting room and casual restaurant and asked council staff to recommend a $350,000 TIF-funded incentive (a $150,000 payment at certificate of occupancy plus up to $200,000 performance-based over three years). Council moved the item to the Aug. 19 regular session.
Economic development staff presented a request for development assistance from Lockwood Distilling Company for a proposed downtown location at 532 Main Street and recommended a $350,000 incentive drawn from Tax Increment Financing (TIF) No. 1.
Staff said Lockwood would lease roughly 5,000 square feet of a 7,260-square-foot building and…
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