There was weeping, when Georgia Beer Company got approval to lease to own the former Valdosta waterworks.
Here are LAKE videos of what happened at the Special Called Meeting of the Valdosta-Lowndes Development Authority, February 7, 2018, and a few stills, followed by a LAKE video playlist, and some pictures of the subject property then and after opening.
Call to Order
Lease agreement for Georgia Beer Co.
GA Beer Updated Agreement Terms
- VLDA to make renovations to the project not to exceed $975,000. $880,000 for renovations, $50,000 architectural/engineering fees and $45,000 for legal and administration.
- Updated Lease payments to $4,500 per month for years 2-6. Lease payments increase to $6,725 in years 7-16 for a total of $1,077,000 in lease payments.
- Revised the option to purchase to: After year 6 GA Beer Company is eligible to purchase building for $1,050,000 less any rents paid. Every year for the years 7, 8, and 9 the purchase option will increase by $100,000 less any rents paid and will cap at $1,350,000 for the remainder of lease term.
- Ga Beer can purchase land and improvements within 60 days at end of lease term for $1,350,000 which would result in a purchase price of $273,000.
Bids: Jones Construction wins
Here’s a LAKE video playlist:
Georgia Beer Company Lease Agreement
Special Called Meeting, Valdosta-Lowndes County Development Authority (VLCIA),
Tom Call Chairman, Roy Copeland Vice Chairman, Jerry Jennett Secretary Treasurer, Terri Lupo, Brad Folsom, Andrea Schruijer, Executive Director, J. Stephen Gupton, Attorney, Tom Davis, CPA, Stan Crance, Existing Industry Coordinator, Lu Williams, Operations Manager, Meghan Schunhoff, Marketing and Research Manager,
Video by John S. Quarterman for Lowndes Area Knowledge Exchange (LAKE),
Valdosta, Lowndes County, Georgia, 7 February 2018.
Photo: Hillary F., Yelp review of Georgia Beer Co., March 16, 2019.
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