Former bar reborn thanks to $500K PRIDE grant

TICONDEROGA | A $500,000 Anchor Project award has been secured by PRIDE of Ticonderoga, Inc., for the restoration of a defunct, dilapidated 80-plus-year-old restaurant site, once popular with locals, and formerly known as the Roofer's Lounge. The site is located in downtown Ticonderoga. Funding for the award has been made available by the 2020 New York Main Street (NYMS) program managed by the New York State Housing Trust Fund Corporation (HTFC) and the Office of Community Renewal (OCR) through a competitive grant application process. In order to be considered for the grant, the property owners, LaChute Ventures, LLC, a longtime local family, had to secure the financing to pay all project costs upfront with the expectation that 75% of eligible costs may be reimbursed with the funding award in accordance to the grant requirements. Investing in this property would not be economically feasible without such a robust funding award. The award will help provide for a new roof, windows, siding, HVAC system, and other necessary updates for the building's resurrection as a full-service, year-round, 200-seat restaurant and banquet space. This award will build on the success PRIDE has had in assisting other downtown businesses with various NYMS grant awards since 2004. PRIDE's Board President Stuart Baker stated, "This is yet another testament to the commitment of PRIDE as a partner in fulfilling its mission of enhancing the community through downtown revitalization." Ticonderoga Town Supervisor Joe Giordano applauded the effort and said "Ticonderoga is very fortunate to have a community partner in PRIDE. Their well-established track record for securing grant funding highlights their revitalization efforts toward sustainable economic development." Project owners believe renovations to the nearly 200-year-old building will transform the downtown restaurant site into a riverfront magnet. The new business, aptly named Paper & Pencil, will add to the collective economic development efforts made by the Ticonderoga Area Chamber of Commerce, the Ticonderoga Montcalm Street Partnership, and others to highlight Ticonderoga attractions and promote year-round activities. In line with the grant's intention, Paper & Pencil will serve as an anchor in creating a new gathering place for residents and visitors along the LaChute River corridor.

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Former bar reborn thanks to $500K PRIDE grant

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