A file shot from 2022 of the OER emblem on the gable of the historic railroad depot.
Owners of the former Oregon Electric Railway depot will receive at least part of the last grants to be handed out by the Central Albany Revitalization District (CARA), the city council has decided.
The council met Wednesday as the Albany Revitalization Agency, CARA’s governing board, to consider 12 applications for shares of $545,000, the urban renewal district’s remaining spending authority.
After two hours of listening to applicants and talking about their requests, the agency approved a motion by Councilman Chris Van Drimmelen to grant $261,940 to the owners of the OER depot and Sybaris Restaurant.
The amount is what Sybaris owners Janel and Matt Bennett had said was needed to complete an outdoor patio and fireplace at the depot, which they have renovated to house the restaurant.
Sybaris had requested $421,770. Councilors Michael Thomson and Carolyn McLeod proposed to grant the restaurant all it requested, but their motion to that effect failed.
The OER depot is owned by Monteith Square LLC, a company managed by Matt Bennett and Bruce “Buzz” Wheeler, the former owner of the Coastal Farm retail chain. The company’s filing with the Oregon secretary of state says its principal place of business is in Omaha, NE.
The Sybaris grant was the only one authorized Wednesday. The council scheduled another ARA meeting on May 27 to dispose of the rest of the available funds. (hh)
I stand by my previous statement that public funds should not be used to benefit “for-profit” enterprises. That said, if there is a for-profit business in Albany that deserves a grant it is Janel and Matt Bennett’s Sybaris. This was my mother and father’s favorite restaurant when alive. Our family business was on 1st St and both of them grew up in downtown Albany and were proud of such a high quality restaurant that drew visitors to the downtown area. We were and are always greeted personally by the Bennetts at the restaurant and the food is always the best and fairly priced. I am glad the OER will be brought back after the demise of Ciddici’s. It is a modest downtown landmark. I think local historian Bill Maddy will be pleased
There are two ways this gets repaid over time, 1. a for profit pays property tax, because many non profits do not. or you make it a loan. Anyone who wants it forgiven, or a non profit uses the taxes of people primarily outside of the CARA district. Do you think that right after the CARA district was formed it was just pure happenstance that we needed a Safety Levy?
I remember them “tube lights” up there in the dormer to light up the letters OER. I did it over 30 years ago.
Didn’t CARA give Novaks a $200,000 loan to be forgiven in 5 years to upgrade a building, and then a few years later they went out of business ??
CARA approved the Novak’s forgivable loan in April 2014. The restaurant closed in 2023.
Awful choice, Sybaris doesn’t need grant money they’re already one of the premium restaurants in town and charge like it. Insane choice and greedy of the owners.
In general, historic preservation projects are not an exercise in greed. One is more likely to lose money than make money on such a project. The family who owns and operates Sybaris would appear to love what they do and the community they live in. To call them greedy is inaccurate and inappropriate. Financially it would have made a lot more sense to locate their restaurant almost anywhere else. My guess is that for them, the restoration of the property is at least one part civic pride.