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Martini/Wine Bar to Open Downtown Next March
"By Dennis LaRue YOUNGSTOWN, Ohio -- Work will soon begin on converting the former headquarters of First Federal of Youngstown, 124 W. Federal St., into an upscale martini and wine bar.With city officials, most notably Mayor George M. McKelvey, present Tuesday morning to claim credit for SKA Limited's initiative, two of the partners in SKA Ltd., attorney Jeff Kurz and David Abrahamson, led ceremonies to offer proof that their long discussed project will, at long last, become reality in March. The first floor of the vacant two-story building, with 31,500 square feet of floor space, will open as a martini bar next spring with second-floor wine bar to follow soon afterward, Kurz said.With Petula Clark's "Downtown" played repeatedly before and after the ground-breaking rituals -- actually Kurz and Abrahamson tossed shovels of snow on the sidewalk outside the front door -- McKelvey spoke of how the downtown is becoming an arts and entertainment district. No, has become such a district, the mayor declared.Despite foot dragging on his part, that of his administration and City Council -- facts McKelvey neglected to mention -- the Youngstown Arts and Entertainment District Association (YAEDA) led the charge to have the downtown designated an arts and entertainment district. What that meant for Kurz and his partners was getting a liquor license for "$2,300, not $40,000, $50,000 or $60,000," McKelvey said.The difference goes to SKA's "capital expenditures," the mayor went on, to rehabilitate and transform the building.The building itself became available when Youngstown Central Area Community Improvement Corp. amended its rent-to-own policy to allow the purchase of properties it owns, provided the CIC is satisfied the applicant can do what he says. SKA has since paid the CIC $22,000, the assessed value of the old bank building.With SKA prepared to spend $230,000 on the building, Youngstown offered its package of incentives: A $10,000 facade grant funded by the U.S. Department of Housing and Urban Development; an assumption of 15% of SKA's costs, roughly $31,500, from the city treasury; tax abatements up to 12 years, said city Economic Development Director Jeff Chagnot; and a waiver of permit fees.SKA -- the third partner, Brad Schwartz, was in Delaware yesterday on business, Kurz explained -- is putting up $30,000 of its own money, the remainder of the private financing coming from Home Savings and Loan Co., through a U.S. Small Business Administration-guaranteed loan. The SBA no longer lends funds; it guarantees the lender up to 75% of its losses should the borrower fail.Mahoning Valley Economic Development Agency is also lending SKA funds, Kurz said, but not how much.To drum up more excitement about the martini/wine bar, Kurz, Abrahamson and Schwartz yesterday began a contest to name their establishment. The winner receives his or her choice of a $500 scholarship at the college of the winner's choice, or a $500 bar tab (must be 21 or older). Applications may be obtained at SKA's Web site. "