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Main Street Station misses first benchmark but remains eligible for future incentives
Summary
Staff reported Main Street Station (115 West Main Street) missed its first benchmark — proof of minimum capital investment of $110,000 and proof of substantial completion — but the project may still qualify for subsequent benchmarks once documentation is provided; staff will follow up on possible permitting delays.
Haley updated the board on the incentive agreement with Main Street Station LLC for 115 West Main Street. The contract’s first benchmark required proof of minimum capital investment of $110,000 and proof of substantial completion; staff said the applicant missed the deadline to provide the required documentation but noted missing the first benchmark does not disqualify the project from future benchmarks.
Board members asked whether permitting or agency delays had stalled the project; staff said they had not been told permitting caused the delay but that staff would follow up with the applicant and the City’s planning staff to confirm whether any hold-ups were on the city’s side. Staff reiterated the applicant remains eligible for the remaining benchmarks pending submission of the required records and a certificate of occupancy.
