Marshfield Common Council Decides Not to Provide Financial Assistance for Possible Fine Dining Restaurant

Wednesday, December 21st, 2022 -- 12:01 PM

If a Marshfield group brings a fine dining restaurant to the downtown, they’ll do so without the assistance of the city.

At last week’s Marshfield City Council meeting, MRDG, LLC. presented their vision for a possible high end and fine dining restaurant in downtown Marshfield. Dave Krause with Forward Financial Bank in Marshfield, and a member of MRDG, LLC., which stands for Marshfield Restaurant Development Group and is comprised of Marshfield business members, stated they decided to work on this project after it was determined in multiple studies and surveys that Marshfield residents would like to see more fine dining and high end restaurants in downtown Marshfield.

The group already has a building under contract for this project, the former High Street Salon building. They’ve been in discussion with Joel Kostor on bringing an establishment into Marshfield.

Joel is the owner and operator of Wish Steakhouse in Weston. MRDG, LLC. will only act as the landlord in the project. They will leave the management of the restaurant to Joel. Their goal is that the tenant of the building, in this case Joel, would buy them out after 8 years.

However, the City Administrator stated that the payback to the city would be closer to twelve years because of the added cost needed to create the TIF District. The group did state there would possibly be a request of $160,000 from the City through TIF District funds for Economic Development.

However, according to the minutes from that meeting, which were approved at last night’s Common Council meeting, during the closed session, the Council voted 6-3 to not assist with that development.

The investment from the city would have come from a development grant, which the facility would have needed fairly early for renovation work.

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