The developer of an upscale banquet hall has broken new ground by being the first to be granted a real estate tax abatement package for a commercial, rather than industrial, enterprise.
Koui Enterprises LLC will literally break ground for the project on Commercial Avenue later this year.
The Lowell Town Council unanimously approved a maximum 10-year graduated abatement for Koui Enterprises, which was represented by George Kouimanis, owner of George's Family Restaurant, and his family.
After learning the council had the option of three-, six- or 10-year abatements, Councilman Edgar Corns, R-5th, said, "That's a million-dollar investment. I say 10 years."
Council President Phillip Kuiper, D-4th, said, "Personally, I'd love to partner up with them for another successful business. They have a great track record."
He noted all the town's previous abatements have been for industries and their equipment.
The proposed 9,000-square-foot facility is expected to provide 48 initial construction jobs, then 22 operational jobs once opened. It will be adjacent to George's, which is at 1910 E. Commercial Ave.
...
