Evanston aldermen gave final approval Monday night to plans to financially support a proposed new bar and restaurant at 623 Howard St.
The city, which bought the building in 2011 for $475,000, will spend up to $200,000 to partially fund rehab work on the space.
It has also agreed to let the bar operators purchase the building four years from now for no more than $675,000 and use all the rent they will pay the city in the meantime toward the purchase price.
Aldermen approved the lease agreement 8-0, although Alderman Don Wilson, 4th Ward, opposed the $200,000 rehab payment. Alderman Coleen Burrus, 9th Ward, was absent from the meeting.
The bar, previously referred to as Peckish One, won’t actually be called that when it opens, Alderman Ann Rainey, 8th Ward, said as the meeting ended.
Rainey, whose ward includes the bar site, said that while Peckish One is the name of the company owners Debbie and Jamie Evans have formed to own the bar, they’re keeping the actual name of the bar secret for now.
Until earlier this year the couple owned the Celtic Knot restaurant in downtown Evanston.
The city-subsidized Ward Eight bar opened last fall next door at 629 Howard.
Some observers have claimed that the projected total $500,000 rehab expense for the roughly 4,700 square foot building and the 2,000 square foot garage space behind it that’s to be converted to a brewery is underestimated.
But Wilson said that under terms of the deal, the business owners, and not the city, will be responsible for any cost overruns.
Thumbs up to pub, thumbs down to salons (Feb. 26, 2013)
City aid sought for brew pub on Howard (Feb. 21, 2013)