Sweet Tomato returns to Lafayette
LAFAYETTE - The city of Lafayette has struck a rent guarantee deal with the owner of the building at the corner of North Public and Baseline roads to ensure that the space continues to house a restaurant. As a result, Italian eatery Sweet Tomato is scheduled to open in the space later this month.
The red brick building, which is home to Mojo Coffeehouse and second-floor office space, has been leased to three failed Italian restaurants in the last 11 years. When the most recent tenant, 7 West, was seized by the state for unpaid taxes in September, a little over a year after it opened, building owner Axel Bishop of Bishop-Layton Holdings decided to convert the restaurant space into offices.
But the city wanted the first floor of the building, which serves as one of the gateways to downtown, to remain retail, Bishop said. Bishop and the city forged a guaranty of lease economic development agreement. Under the terms of the deal, during the three years after the Sweet Tomato lease is signed and approved by the city, the city will give Bishop a rent guarantee of $4,833 a month for six months if the restaurant fails and the space sits empty while he searches for a replacement tenant.
"I just wanted some assurance I wouldn't be stuck again if another restaurant leaves," Bishop said.
Lafayette Economic Development Director Bonnie Star said the city made the agreement with Bishop because "it was in our best interest to retain a more active user in this visible location," rather than an office tenant. Star said she couldn't speculate as to whether other owners of empty retail spaces in downtown Lafayette will ask for similar agreements, or whether the city would approve other rent guarantees. "Our economic incentives are determined on a case-by-case basis," she said.
Ironically, Sweet Tomato was one of the failed tenants Bishop is trying to guard against. The restaurant, which was located in Bishop's building from 1996 to 2003, closed because of a "relationship issue" between owners Eric and Annie Lee, Bishop said. Annie Lee went on to launch Pinocchio's restaurant in Longmont and Greeley, and is a "very professional restaurateur," said Bishop, who asked her to reopen Sweet Tomato because of requests from past customers.
Lee said the new incarnation of Sweet Tomato will be much the same as the previous one, serving moderately priced Italian fare. She expects the restaurant to open shortly before Christmas.
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