Culver’s tax abatement
A 10-year tax abatement for a Culver’s restaurant on Veterans Parkway was approved by the redevelopment commission.
Before the abatement was approved, Waiz explained that an abatement of this type is somewhat unusual, but he also said it may provide a needed benefit to the area.
“I don’t think we do too many restaurants actually for a tax abatement, but this would just be a great shot in the arm for Veterans Parkway,” Waiz said. “This would be something to get things jump-started”
Culver’s Owner Frank Spanopoulos said the investment to open the restaurant will be about $2.2 million. When it is operational, Culver’s will employ between 40 and 60 people and have a payroll of $400,000 to $500,000.
The abatement on the Culver’s property only was unanimously approved.