After getting a commitment from the City of Hollister for a loan
of up to $1.5 million, three local businessmen are hoping to open a
Honda PowerHouse store in the former Good Times Bowl by September
of 2006.
Hollister – After getting a commitment from the City of Hollister for a loan of up to $1.5 million, three local businessmen are hoping to open a Honda PowerHouse store in the former Good Times Bowl by September of 2006.
Last month, the Hollister Redevelopment Agency board voted to send the Honda Corporation a letter stating that they are prepared to make the loan to Dave Galtman and Marty and Mike Greenwood, who bought the bowling alley on San Felipe Road last year with plans to turn it into a motorcycle dealership.
Galtman said that the city’s commitment to loan the money for the remodel was crucial to Honda’s decision to get on board with the project.
The PowerHouse store will sell most everything Honda makes, excluding automobiles, and will include a service center. Currently, the state has only one PowerHouse, located in Southern California. City officials and council members are eager to see the rare store come to Hollister, saying it will be an economic boon for the city.
City Manager Clint Quilter said that the PowerHouse store will benefit the city in at least four ways.
– Remodeling the vacant bowling alley would improve Hollister’s northern gateway.
– The remodel would make the building more valuable, increasing property tax revenue.
– The store would draw people into town and generate sales tax revenue.
– The store would create about 23 new jobs.
Galtman and the Greenwoods still have a lot of work to do before the can open the PowerHouse next year.
Last month, representatives from Honda were in Hollister to take a look at the former bowling alley, and Galtman said he hopes to receive design specifications from the company in early January. From there, local architect David Huboi will create plans based on Honda’s specifications. Then the design must be approved by the city planning commission before the remodel can begin.
The amount of money that the city will loan for the venture still has to be determined as well.
According to Development Services Director Bill Avera, $1.5 million is the maximum that the RDA might loan, but he said he expects the actual loan to be substantially less. The RDA will draft a loan agreement that will hammer out details, such as how much the loan will be and the repayment terms. But as long as all the players are still on the same page with the project, Avera said the city will make a loan.
“Things should be ironed out by the middle of January,” he said. “If the project continues and Honda is in… yes, that money will be available.”
Luke Roney covers local government and the environment for the Free Lance. Reach him at 831-637-5566 ext. 335 or at
lr****@fr***********.com
.
