The road is clearing for Winking Lizard, Inc., which hopes to site a new restaurant in Streetsboro.
City council has already approved a liquor license transfer for the restaurant and is creating a community redevelopment area, which allows a property tax abatement to proceed.
Council will have the final say on the matter during its Feb. 24 session.
The restaurant would be located at 9331 state Route 43 and would incorporate a building previously used as a house, a church and Christian community center. On tap is converting the existing building on the property into a restaurant and adding an outdoor seating space, landscaping and paved driveways and parking areas.
Winking Lizard is committing to providing 25 full-time, 25 part-time and 10 temporary, seasonal jobs through Dec. 31, 2030, resulting in a $750,000 gross annual payroll.
In return for the company’s anticipated $2.6 million investment, the city is eyeing a five-year, 35% property tax abatement.
Streetsboro Economic Development Director Patrick O’Malia said that as a church, the property generated $7,000 in property taxes in 2023.
“By the time this thing is done and the new Winking Lizard is up, they could be giving us anywhere between $10,000 to $17,000 in additional taxes beyond what they were already paying us. It could be as much as $24,000,” he said.
Abating 35% of that still leaves the city with more than it was getting, and that’s not counting the $15,000 in payroll taxes, he said.
Should council approve the CRA and tax abatement, Winking Lizard expects to break ground in May and to have construction completed a year after all permits are approved.
Wendy DiAlesandro is a former Record Publishing Co. reporter and contributing writer for The Portager.