FEDC considers incentive request for Bistro

During its regular Nov. 19, 2020 meeting, the Forney Economic Development Corp. met to consider incentives for a Bistro.

• Financial report: Mr. Burrus said reports have a new format, first month of fiscal year, 133k surplus this month.  He asked Mr. Carson if will no longer get trend comparisons to previous year tax revenue, that is useful.  Mr. Carson will see if new format may provide that.
  
• Interim Executive Director's report: Mr. Carson said he is receiving and responding to emails and telephone calls.
  
• Delayed a request for incentives for The French Quarter Bistro at 51 N. FM 548.
      Applicant Mr. Clouse spoke, stating his wife has degree from Cordon Bleu.  They love Cajun food and daiquiris, plan to have live music, maybe on Palios' patio.  Will offer unique food.  Moving into ice scrapers space. 1600 sq ft, capacity unknown, M-T 2-10, F 2-midnight, weekends all day w/ brunch on Sunday.  Wanted to be downtown, but location didn't work out.  He owns a telecom contracting co, partner Nathan owns Forever Faded since 2014.  Have applied for wine & beer license, will offer daiquiris to go.  Financing is secured, signed 5 yr lease.  Hope to occupy part of patio, coordinate with Palios, where will have live bands.  Starting w/ 3 full-time in kitchen, 2-3 in front + part-time.  Ms. Lewis said it's listed as downtown incentive - item listed wrong, as they started looking in downtown. 
      Pres. McBeth said outside of downtown, can't offer several incentives.  One option is employee incentives.  Ms. Lewis asked about the amount requested: They will take any help, have renovation, equipment financing secured.  Pres. McBeth asked Mr. Thatcher about job incentives - Mr. Thatcher said could consider it in executive session, must have claw-backs in any performance agreement.  These should be jobs that are sustained, payment would occur at 1 year.  There is concern that the space is too small.  Nathan said w/ COVID, this is the right space to start with.  They work with a distillery in Houston.  Mr. Burrus said be nice to have lunch-time options.
  
• withdrawn: a Performance Agreement with Trinity Valley Small Business Development.
  
• Held a 36-minute executive session re:
  
• Approved a $12k incentive grant: $6k up front, $6k in 6 months with employment verification.
  
• Adjourned at 1931.