Bircus Brewing Events Center

kenton County


Event Center with Potential River Access, Commercial, Redevelopment, Tourism-related, z-Other

Description:

The Bircus Brewing Co. is listed as one of Six Must Visit Breweries by YELP’s national blog. We are expanding to a two acre site with fantastic views of downtown Cincinnati in Ludlow’s Opportunity Zone. This parcel includes river access and contact has been made with the National Park Service in Washington DC as The Ohio River Recreational Trail is among eight projects across the Southeast that will receive planning assistance from the NPS for a 274 mile trail on the Ohio River. Over the past ten years Circus Mojo and Bircus Brewing have led the efforts to repurpose the Historic Ludlow Theatre with the help of State of Kentucky Angel Investor Tax Credits, State and Federal Historic Tax Credits and many investors we have a track record of converting empty buildings into unique destinations.


Potential Market/Users:
Over two years ago, on December 22, 2017 the Opportunity Zone (OZ) tax initiative was enacted as part of the 2017 Tax Cuts & Jobs Act. Back in November 2009, when Lehman Brothers was closing and General Motors was about to go bankrupt, a former movie theatre sat vacant for years on the 300 block of Elm St in Ludlow, Kentucky. As a response to this downturn, President Barack Obama passed the Jumpstart Our Business Startups or JOBS Act, which allowed for the first time non-accredited investors to invest in start-up companies. Ten years ago, The Ludlow Theatre reopened as the home of Circus Mojo and later the Bircus Brewing Co. Paul Miller Bircus' Chief Goof-Officer worked closely with the law firm Graydon to file the extensive paperwork to bring the Regulation A+ Filing to fruition. One hundred and fifty three investors later, Bircus is using the recently finalized Opportunity Zone/Fund guidelines for expansion. On December 19, 2019 the IRS published the final regulations for this dynamic program. A month ago the Ta-Da Opportunity Fund LLC, led by key investors in the Bircus Brewing Co., local commercial real estate Wiz Craig Roberts, Shannon Smith of The Law Offices of Shannon Smith and Whitney Stith of Wimsatt & Associates purchased the former Doxol Propane plant/distributorship at 2 Highway Avenue in Ludlow. This big blue building can been seen from the Carew Tower was built in 1909 and is inside Ludlow's Opportunity Zone. Bircus will be expanding to create a dynamic wedding and events center with a stellar view of downtown Cincinnati. Ludlow's Mayor Josh Boone shares “The City of Ludlow is excited to hear about this development within our opportunity zone. This project will not only revitalize a vacant piece of property, but will serve as yet another venue to showcase Ludlow’s burgeoning economy. We look forward to this great investment in our urban core.” Opportunity Zones allow for both tax deferral and potential capital gains exclusions, on December 31st the timeline to save 15% on step up benefit on capital gains expires. This August in Cincinnati, President Donald Trump said "Our tax plan also created nearly 9000 Opportunity Zones, hottest thing going, providing massive new investment for job creation in this-- in the stressed communities... Incredible." Past performance is not indicative of future results, however It's not too late to tour and potentially join the Ta-Da Opportunity Fund LLC in the growing community of Ludlow, Kentucky. A NYE countdown clock is projected nightly on the side of the future Bircus Events Center. Couples who get married will have the chance to make custom beers at the Bircus Brewing, serve them at their reception and send their guests home with personalized cans of their beer as wedding favors. "Flourishing local businesses such as Bircus Brewery, 2nd Sight Spirits' are bringing in patrons from all over the Tri-state area which has really helped shine a light on our small town. Combine that with the uptick in local renovations and Ludlow’s proximity to downtown and you have yourself a booming real estate market! Median sale price or single family detached homes in Ludlow, KY 2019 Median - $123,500 versus in 2009 Median - $56,250."" says, Matt Brock of Keller Williams Realty Services.
Potential Competitors:
Drees Pavilion in Devou Park Braxton Brewing Co Rhinegeist
Current Investors:
Paul Hallinan Miller paul@bircus.com

Point of Contact:
Paul Miller
Ta-Da Opportunity Fund LLC
513-206-4622
Project Address:
2 - 8 Highway Avenue
Ludlow, KY 41016
Management Team: