By Sophie Pappas
At last week’s meeting of the Zionsville Redevelopment Commission, the group heard a request for a business incentive grant from 98 S. Main St. LLC co-owners Mike and Valerie Swack.
98 S. Main, which sits on the corner of Main and Oak streets, is the site for a potential Noah Grant’s expansion. Noah Grant’s, a steak and sushi bar, is owned and operated by Shari Jenkins, of Zionsville.
According to Valerie, Jenkins would like to expand Noah Grants’ sushi bar into the lower level of 98 S. Main.
“This expansion will allow for their business to grow exponentially by adding an additional 50 seats into an approximate 1,400 square-foot space,” Valerie wrote in and executive summary to the RDC. “Expansion will occur by joining the two buildings by connecting them through a common wall.”
The Swacks estimate that the Noah Grant’s buildout will cost more than $100,000, which includes moving a Vectren gas line and adding fire doors between the buildings.
“It’s a very logical space for a restaurant,” Valerie said. “And this money would be used to get the space ready for Shari.”
RDC president Luke Phenicie asked Valerie what would happen if the town did not provide incentive grant funds for the expansion, to which Valerie replied that the project probably wouldn’t happen.
“Everyone obviously recognizes the impact Shari has,” Phenicie said. “I’m assuming there’s a desire to do something here…but I think we want to think through this a little more.”
Phenicie said that if the RDC can’t provide full financial support through an incentive grant, then there are other “more creative” ways to help get the project done.
“There’s a lot of information we can at least try to collect,” said commissioner Brad Johnson.
In addition to the incentive monies requested, the RDC is anticipating for Jenkins to request an additional microloan for expanding Noah Grants. However, Jenkins is already the recipient of a $25,000 microloan for her newest restaurant The Salty Cowboy.
Chair of the microloan program Katie Culp said that extending a second microloan to Jenkins has minimal risk to the town since Jenkins has a history of operating vibrant businesses.
“We’re pretty open to this upcoming request,” Culp said.
Phenicie said that the group should look at this request as coming from two separate entities, even though the restaurants have the same owner.
“I’m in favor of it personally,” he said.
