As if there weren’t enough reasons to hang out in downtown Frisco, the city’s leaders have attracted another attraction. According to a recent City of Frisco article, “The City of Frisco is a step closer to approving a new public-private partnership with a brewery production facility which, city leaders believe, will pour tourism dollars into its historic downtown. Tonight, the Frisco City Council approved a Master Development Agreement, Lease, and Performance Agreement with Rollertown Beerworks. The City of Frisco is tapping its Economic and Community Development Corporations (FEDC/FCDC) to invest in the proposed project, too. Under the proposed agreement, the facility would be located on about 2.6 acres of city-owned property adjacent to the downtown silos. The FEDC will vote on the contract Wednesday; the FCDC will vote Thursday.”
Public/Private Partnership
The article continues, “One of our Council’s ‘Top Ten Priorities’ is to make historic downtown an entertainment destination. This public-private partnership will be monumental in redeveloping historic downtown Frisco,” said Mayor Jeff Cheney. “We’re confident it will be a high-energy, gathering place for residents and visitors, alike. In fact, our VisitFrisco team shares’ breweries’ and ‘live music venues’ are two of the reasons why residents leave Frisco for other entertainment destinations. Rollertown Beerworks will be designed to have both.”
New Prospects
The new agreement is quite large. According to the report, “Under the proposed agreement, the Frisco Rollertown Beerworks will span at least 24,000 square feet and include production operations, as well as a restaurant, event lawn with artificial turf, a stage/pavilion and a two-level tap and tasting room with a rooftop experience and beer garden. Company executives estimate ‘Rollertown’ will attract more than 250,000 visitors to Frisco each year…In the proposed contract, the FCDC would invest up to $10 million to construct the facilities to accommodate brewery production, distribution, and sales activities; the FEDC would contribute an additional $2 million grant towards construction…The proposal requires Rollertown Beerworks to cover any costs exceeding the city’s maximum $12 million total investment for design and construction. The company would also be responsible for all management and operation costs. The brewery is expected to employ at least 36 employees, including full and part-time staff.
Brews & Good Times
The article concludes, “We are thrilled to partner with the City of Frisco to bring a world-class brewery and entertainment facility to the downtown area,” said Jonathan Rogers, CEO of Rollertown. “Along with being one of the finest places to live in the country, Frisco is one of the most creative, forward-looking communities in the U.S. We look forward to being an excellent partner for the City of Frisco and an excellent teammate for her partners, institutions, and residents’…If approved, the public-private partnership would involve a 23-year lease agreement with an option to extend the lease to 40-years. Under the proposed agreement, Rollertown Beerworks would repay $10 million at 4% interest within 23-years. After the second year of operation, the repayment provision for the $2 million grant would be forgiven. The City of Frisco will retain ownership of the property and facilities. If approved by all parties, construction is expected to start within a year. An opening date for Rollertown Beerworks in Frisco is anticipated in late 2024.”
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