The Troutman Town Board unanimously agreed to purchase vacant land on North Main Street for the town’s first ABC Store.
A 4,000-square-foot retail and warehouse facility will be built at the corner of Goodman and North Main Streets with construction to begin by Aug. 15 and be completed by Dec. 1.
The board held two public hearings on July 25 and voted to acquire and convey 0.90 acres located at 511 N. Main St. to the Troutman ABC Board for theretail outlet and warehouse, said Layton Getsinger, ABC board chairman.
The decision comes almost two years after voters approved a resolution authorizing the town to enter into the retail liquor sales business by a 64 percent to 36 percent margin. Neighboring municipalities Mooresville and Statesville have had successful ABC stores for some time, and Troutman’s own economic impact analysis noted the new store “will stimulate the local economy, promote business and result in the creation of jobs. In addition, the operation of such a facility will result in the distribution of ABC profits and a portion of the sales tax generated by mixed beverage (on premise) sales to the town.”
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At one point, the town had considered the possibility of working with either Mooresville or Statesville in a joint venture, but Getsinger said “we have the resources to build our own and realize all the profits.”
Consideration had also been given to using a vacant store, such as the former Kerr’s Pharmacy located next to Food Lion on North Main Street to cut down on construction costs. However, the vacant pharmacy was 7,700 square feet, much larger than what the ABC operation require, and renovation costs would have eliminated any potential savings.
The $500,000 construction cost will be financed by the ABC Board, a separate entity from the town, through BB&T Bank. Getsinger projects that by its third year of operation, the store should generate a profit. The town had previously adopted a profit distribution formula, which called for 12.5 percent of the profits to be distributed to each of three entities: the Troutman ESC Park, the J. Hoyt Hayes Memorial Troutman Library and the four public schools in the town. Any additional profits will go back to the town.
The design for the new store resembles a boathouse, according to Planning Director Erika Martin. “It will contain white hardy plank siding on the front and exposed brick along the bottom. The town’s Design Review Board believes it will be an asset to the character of the community.”
Dave Vieser is a freelance writer: email@example.com.