Name Revealed For Libby's Cafe Spin-Off

It appears that the has a name and more details.

Floor plans shown during a contract amendment before the Sarasota City Commission reveal that the restaurant will be called Louie's Modern Restaurant. 

The restaurant will be run by owner Steve Seidensticker in a space owned by Biter Enterprises.

The restaurant/indoor/outdoor cafe with banquet and ballroom space is designed with an open kitchen with seating for 450 to 550, according to the plans.

The commission Monday approved a storage lease agreement for Palm Avenue Holdings, which is the company name for the restaurant/real estate venture because of additions needed for the restaurant. Commissioner Terry Turner cast the lone vote against the agreement, saying he is against leases for more than 10 years.

The storage lease covers 3,340 square feet, which covers the a ventilation shaft needed for the kitchen, installed in a column from floors two through six, and storage areas for food and equipment. This is a separate lease from the space for the 11,000 square-foot restaurant.

The city will collect $16,700 plus sales tax per year in the agreement (totaling $17,869), according to Steve Stancel, chief planner, and the first year of the deal includes an $8,800 credit for construction for a parking manager's storage area. The lease will be for 10 years with an option to renew up for four addition times for five years each. Rent will increase in the sixth year of the deal.

The restaurant will also construct an addition to the rear of the space taking up five parking spaces to accommodate space for its food storage and coolers. Bicycle spaces could either be reduced through an administrative request from 74 spaces to 56 spaces or relocated elsewhere on the property, Stancel said.

If the restaurant leaves or the contract is terminated and another restaurant doesn't move into the space, Palm Avenue Holdings would have to restore the space to the original design, removing the constructed additions, said Mary Tucker, purchasing manager for the city.