Newport now owns the Brass Ass, Brass Bull and seven other vacant parcels on Monmouth Street.
Now what?
The Newport Commission voted on July 23 to approve a $3.8 million purchase of nine properties on and adjacent to the 600 block of Monmouth Street. The approval comes after the city announced on Wednesday that it was purchasing the Brass Bull, Brass Ass and Huddle’s Cafe as part of a downtown redevelopment effort.
“This is a significant amount of money for the city, but what matters most is not simply what is leaving,” said Newport Mayor Tom Guidugli Jr. “What matters is what can be created in its place. That is significant. This is about opening the door to new possibilities, opportunities that are more consistent with the future that we are building in Newport together.”
With the purchase, the establishments will officially close. Newport Assistant City Manager Brian Steffen outlined its plan to fill the vacant properties at its special meeting on Thursday.
The city first needs to secure the properties, make sure they’re clean, and have insurance, utilities, etc. Then they will work on stabilization, which includes things like ensuring there aren’t roof leaks, the mechanical systems work and there is no immediate hazard or danger.
Once those routine items are complete, the city will move into a request for proposal phase asking developers for their ideas, which Steffen said they intend to do “as soon as possible.”
“This is not something that we intend to sit on for very long,” he said. “We would like to turn these properties over as quickly as possible. We’re not attempting to be developers here. That’s not at all the suggestion. The suggestion is that we turn these properties over, try to recoup the funds that the city is expending on this, and get a development on these sites quickly.”
Once the city evaluates the proposals, Steffen said it will seek public engagement and hopefully, by the end of the year, have a decision to move forward with.
“I believe that this is a decision that our citizens wished for and want,” said Newport Commissioner Ken Rechtin. “Now, from that, what I hope we will hear is what they want for the future. Do we lack an ice cream parlor? Do we lack a florist shop on our main street? What do we lack and what do we need? I’m hoping to hear those types of things from folks.”
Before the city’s purchase, Newport CRE LLC assembled all nine properties from multiple owners for $3.5 million. According to the city’s redevelopment analysis, the city paid a $300,000 premium because the parcels had already been assembled into one redevelopment-ready site. Although four companies and one trust previously held the properties, the city said they were all ultimately controlled by Galen Kidwell.
Steffen said Thursday that the city estimates it will cost $250,000 if the parcels sit vacant. He said these are not borrowed funds. They come from the city’s project funds.
Monmouth Street business owner and Newport resident Karen Minzner spoke at Thursday’s special meeting and said she loved that this deal was happening.
“I’m happy to be the next generation of what we want to see on Monmouth,” Minzner said.
As part of the purchase agreements, the businesses operating on the properties must permanently close before the sale is finalized. The agreements also require the businesses to terminate employees and business agreements and transfer ownership of the Brass Ass, Brass Bull and Huddle’s names to the buyer so they cannot be used for future operations.
The city told LINK nky that it will be working to preserve the Brass Ass establishment’s iconic neon sign.
With Newport’s current zoning laws, other adult entertainment businesses cannot locate in the city.
“My understanding is that 609 Monmouth Street [one of the purchased properties] has been vacant for decades,” said Newport Commissioner Aaron Sutherland. “By activating these businesses, these buildings, this represents a significant step forward for our main street. This is going to make our city more vibrant for families.”
Steffen said through this process, the city wanted to be as transparent as possible. The city put together an in-depth analysis of the costs, missed opportunities, and the values of the properties that can be viewed here.
“Newport is a city that’s always reinvented itself,” Guidugli said. “We have a proud history. This will always remain a part of that history, but we’re not stuck in the past, and we’re ready to move to the future. We respect where we came from, while we continue to build something new and better together.”
