By Amanda Raymond

 amanda.raymond@salisburypost.com

The Salisbury City Council will consider approval of an Economic Development Incentive Grant for a project at the Wallace Dry Goods Building at their meeting on Tuesday at 4 p.m. at City Hall.

The grant is for $200,000.

The owners of the Wallace Dry Goods building at 114-118 E. Fisher St. plan to renovate the upper floor to turn it into 14 new apartments and expand the ground level to create three commercial spaces.

The renovations would create four full-time jobs and eight part-time jobs, as well as bringing in $192,280 of new tax revenue over a 10-year horizon.

The grant will utilize and reimburse the company for 25 percent of eligible renovation expenses for a currently vacant building, not exceeding $50,000; $7 per square feet for the development of the upper level residential space, not exceeding $100,000; 50 percent of the eligible cost for water and sewer infrastructure, not exceeding $25,000 and 50 percent of the eligible costs for fire suppression installation, not exceeding $25,000.

They hope to have the project done by December of next year.

The board will also consider:

• The voluntary annexation of 18.42 acres for Corbin Acres Phase 2.
• Issuing a permit to operate a pool hall located at 113 and 115 Mooresville Road.
• Adopting a resolution to authorize the city manager to apply for a $200,000 Main Street Solutions grant for a new brewery and restaurant project.

Contact reporter Amanda Raymond at 704-797-4222.