Springfield City Commission at its Tuesday meeting discussed an employee incentive agreement with the new business in its first reading.
Springfield assistant city manager and director of development Tom Franzen said the agreement, similar to the one made by the city with franchise Pretzelmaker in August, entails the business establishing a payroll of $320,000 within its first 24 months of operation, with 12 full-time and part-time employees in its ranks.
Charlo’s is also expected to invest $300,000 in tenant improvement and $45,000 in personal property, such as kitchen equipment.
In exchange, the city will award the business a $20,000 grant, a figure based on income tax.
City commission will revisit the agreement at its Nov. 23 meeting.
Charlo’s Provisions & Eatery is a part of the city’s plan to convert 3,000 square feet of retail space at the garage on North Fountain Avenue, which opened last year, into three store fronts.
The project is expected to be completed by early November, The buildout is expected to cost about $385,000. The parking garage opened in 2020 and those that supported the project said it is the result of continued economic development in the area.
Besides creating additional parking spaces downtown that can support local businesses, the goal was to also add more retail space as city officials said that there has been more interest in the downtown over the years.