Rendering of Vicious Cycle Brewing Co, coming to Fraser in late 2020/early 2021 Courtesy Photo
At Wednesday night’s Board of Trustees meeting, the trustees reviewed a request from Nathan Watts for economic incentives and relief of fees applicable to the development of his new venture, Vicious Cycle Brewing Company. Located at 751 S. Zerex Street on the southwest corner of Old Victory Road and US 40, Watts has plans to build a 4700 sf brewery on the parcel. To help with start up costs, Watts submitted the following request for economic incentives:
- Rebate of the 4% municipal sales tax to the building owner (100% for five years, then 50% for five years);
- Rebate of the property tax increment for a term of five years;
- Waiver of the applicable Use Tax;
- Deferral of water and wastewater plant investment fees at time of building permit, payable over three years after Certificate of Occupancy;
- Water and wastewater service fee waivers until issuance of Certificate of Occupancy, or three years whichever comes first; and,
- A rebate of $1 per square foot (sf), payable upon issuance of Certificate of Occupancy (in lieu of waiver of permit and review fees).
Watts told the trustees the land had been purchased by his parents and he would be leasing it from them. “We are here for the long haul, being a family venture,” said Watts. “Our goal is to bring people past the resort and into the town of Fraser. One of the reasons we chose Fraser is for the benefits the town offered.”
“I have nothing against breweries, but alcohol does cause expense to the community,” said trustee Andy Miller. “About half the police calls are alcohol-related. It’s no secret that mountain towns have alcohol problems – we want to provide resources to help people get past that. It’s the philosophy we need to look at and how these things impact the community.”
Town Manager Jeff Durbin reminded the trustees the incentives sunset at the end of the year. “You will want to have some discussion on this,” suggested Manager Durbin.
Trustee Katie Soles motioned to approve entering into the incentive agreement with Watts and wished them well. The board approved the motion unanimously.