A Cumming-based brewery may get financial help in opening a second site in Gainesville.
A committee has voted to recommend $700,000 to help cover NoFo Brew Co. and Distillery’s costs in setting up shop off the Midland Greenway at 434 High St. SW. The recommendation now goes before Gainesville City Council for a final vote at a later meeting.
NoFo was seeking $805,659, or 17% of the project’s overall $4.7 million cost, but concerns were raised about tax value when the project is done. Tax increments were calculated based on the property being assessed at $3.7 million.
“The market could crash and (values) go on the tax digest for (a lesser amount),” said Jeff Stowe, a member of the Tax Allocation District Advisory Committee and a Hall County commissioner.
A tax allocation district, commonly referred to as a TAD, involves a public financing of projects in which developers and government work to improve “blighted” areas through projects that will elevate property values.
The government expects to recoup its investment from increased revenues on the improved property in property tax amounts over and above a tax baseline created for the district.
The committee first considered capping the recommended amount at $629,000, or $185,000 in the first two years and the rest spaced out over the next 10 years, but then decided to up the amount to $700,000.
“It’s a good investment,” said Danny Dunagan, committee member and a Gainesville City Council member.
NoFo, which is short for “North Forsyth,” hopes to open the location in April 2023, renovating a 18,214-square-foot industrial warehouse.
Like its Cumming location, Gainesville’s will house both a brewery and distillery, as well as a fenced-in patio, firepit and restaurant. No tenant has been named for the eatery, but there are prospects, CEO Joe Garcia told the committee.
Overall, “we really just want to create a space where people are walking on the greenway with their family … can stop in and see us,” he said.
Fans of the NoFo brand can expect to sip familiar staples like Snow Ghost, Bluebird Day and Collateral, as well as some new Gainesville-specific brews and handcrafted cocktails.
Marketing director Eliana Barnard has said the new brewery will bring 20 jobs to the city.