The Lake View City Council has approved an agreement with an incoming locally owned retailer for the development of a currently vacant downtown building. Administrator, Scott Peterson, says the city-owned property at 413 Main Street will soon be undergoing renovations as Milton’s On Main, LLC prepares to move into the space.
The business is a collaboration between two local families, the Millers and the Waltons, hence the Milton moniker. As with every development agreement, there are expectations for both parties. Peterson provides specifics on the terms of the contract.
In exchange for these improvements, the city will sell the structure to Milton’s on Main for a significantly reduced amount of $4,000. Additionally, they will be eligible for the standard tax abatement programs and can apply for up to $5,000 in business improvement grants from the city. Renovations are slated to finish in June with the business most likely opening in July. Peterson says this is another example in a recent series of successful development agreements in Lake View.
While the contract has been approved, the city still needs to go through the process of transferring ownership of the property. The public hearing for the sale of 413 Main Street is scheduled for the Dec. 21 council meeting.
