Businessman Max Kotlowski will take over the building and says the first step will involve renovations.
Kotlowski says the second step will consist of upgrading the building to become environmentally friendly by adding features like solar panels, ice melting piping and drilled geothermal wells in the sidewalk.
Kotlowski says he asked the city for a long-term lease because of the huge investment he’s making.
Mayor Mel Norton says under the terms of the lease, Kotlowski will invest a guaranteed amount of $500,000 to begin with.
Norton says the cost for the city to renovate the building would have been approximately $800,000.
Kotlowski says a settlement had to be reached with Boaz to allow the building to become a restaurant once again.
