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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 invest more than $1 million in the project. Planned renovations include HVAC and façade work, upgraded restrooms, and interior build-out for full-service dining and event space. The city's proposed incentive package would provide $150,000 cash upon issuance of a certificate of occupancy and up to $200,000 in performance-based payments over three years if revenue and retention thresholds are met.
Lockwood representatives said the downtown venue would be a tasting room and restaurant (not an on-site distilling operation) and that the incentive would make the project feasible; they targeted a November opening and projected workforce levels consistent with their Richardson location. Staff compared the per-square-foot incentive to recent downtown projects and said the TIF funding would activate a long-vacant storefront and contribute to downtown economic activity.
Council members welcomed the proposal and staff announced they would place the formal incentive agreement on the Aug. 19 regular-session agenda for final action.
