TIF Assistance Approved for Beverly Restaurant and Retail Building
Two new commercial buildings will be constructed in Beverly through a Tax Increment Financing (TIF) financing approved today by City Council.
Beverly Western Partners LLC will build a 3,900-square-foot restaurant to be occupied by Buona Beef in the first phase. A second phase will include the construction of 2,100-square-foot building to be leased to another retail or restaurant business. The .75-acre site will include parking for 28 vehicles.
Proposed for the northeast corner of 107th Street and Western Avenue, the $2.9 million complex will receive $450,000 in TIF to help with site preparation work. The project will create 40 temporary and 60 permanent jobs.
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