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West Fargo approves $75,000 incentive for Pargo indoor entertainment venue
Summary
The commission approved a $75,000 (6.25% of fit-up) incentive for Pargo LLC for a 9,700-square-foot family entertainment venue; staff projects the city would recoup the incentive in roughly 2½–3 years under the worst-case pro forma.
The West Fargo City Commission voted Oct. 6 to approve a $75,000 economic incentive for Pargo LLC to help fund fit-up of a 9,700-square-foot indoor, family-oriented entertainment venue in the Northern Lights building.
Casey Sanders, director of economic development, said the owners expect to invest about $488,000 in nonportable building improvements (fit-up) and that the project’s bid package estimated approximately $1.2 million for the overall project. The requested public support of $75,000 represents about 6.25% of the fit-up; the owners worked with the Small Business Development Center on pro forma projections that estimate a worst-case footfall of about 75 customers per day and a city sales-tax portion of roughly $31,445 annually. Sanders said those metrics imply a city return on the $75,000 investment in roughly 2½–3 years under the conservative case.
The owners projected roughly 4 to 5 full-time jobs and 10 to 12 part-time positions. Staff described the incentive as a fit-up grant structured the same way the city treats enterprise grants — funds would reimburse permanent building improvements attached to the space so they remain with the facility if a tenant leaves.
Commissioners approved the incentive by voice vote. The economic-development office will finalize terms and a reimbursement schedule and will require documentation of eligible fit-up expenditures before disbursement.
