ST. LOUIS — A Dogtown brewer is eyeing expansion into St. Louis' North Hampton neighborhood, city documents say.
Heavy Riff Brewing Co. would build a 20,000-square-foot structure at 4957 Fyler Ave., pending approval of a subsidy deal with the city. Construction costs for the facility, housing "main brewing operations," would total $4.2 million, and the new property could employ 50 full-time workers, the city said, with about half working in production and the other half in a 2,000-square-foot restaurant.
Acquisition of the property, currently owned by an entity tied to Donald Jacobsmeyer, would cost $525,000, and Heavy Riff, through its HRBC Holdings LLC, would put in equity of $200,000 and carry debt totaling $3.6 million.
In exchange for the investment, a city panel could grant the brewer 10 years of property tax abatement based on 75% of the assessed value of improvements. Heavy Riff would also rely on a 10-year community improvement district, which would levy a 1% sales tax at the site. The CID would raise $350,000, according to the city. The government estimated the city would see a benefit of $392,000 over 10 years and $823,000 over 20 years because of the project, located in an enhanced enterprise zone. A city panel, called the Enhanced Enterprise Zone Board, could recommend to the Board of Aldermen Tuesday whether to grant the tax abatement.
Read the full story on the St. Louis Business Journal's website.