COPPERAS COVE — Economic Development Corporation board members approved an agreement Thursday to grant up to $40,000 to help the owners of Black Meg 43, a hamburger restaurant, with improvements to their future location.
The owners may be reimbursed for what they spend to improve the parking lot, construct a drive-thru window, change the signage and other approved expenditures up to $40,000 at the former Kettle Restaurant, pending Copperas Cove City Council approval next month.
“This is an item we’ve been working on for some time,” said Polo Enriquez, executive director of the corporation.
“With the help of our attorney, we feel comfortable it suits the needs of the business and the EDC,” he added.
Funds will come from the EDC’s approved 2012-13 Business Retention and Incentives Budget.
According to a report on the economic impact of Black Meg 43, provided by Impact DataSource, the restaurant will create 19 direct and indirect jobs within 10 years of business and make $700,000 in taxable sales annually.
Board member Jimmy Clark said the corporation has provided funds solely to help businesses with infrastructure in the past.
“With our focus on business retention, this is the direction we’re trying to go for,” said Bradi Diaz, EDC board treasurer, before motioning to approve the agreement.
Other board members unanimously agreed to grant the funds to the Black Meg 43 owners.
“It needs a lot of work,” said Doreen Vasseur, co-owner of the restaurant, at the close of the meeting. “We’ve already started.”
Black Meg 43 owners learned in late November that CVS Pharmacy was going to purchase its current location, at 1501 W. U.S. Highway 190.
They negotiated a 20-year lease with the owners of the former Kettle Restaurant, just across the highway from their current location, earlier this month. The Kettle closed Dec. 2.