AppleTree Companies, Inc (fka ATREQ)

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13:49 ARTEQ Artes Medical, Inc. Common Stock 12/11/2008 Y 100 From G (ARTE)**

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AppleTree under new owner

Oct 18, 2008 (The Eagle - McClatchy-Tribune Information Services via COMTEX) -- The owner of the Briarcrest Drive shopping center that houses AppleTree has taken over operations of the grocery store and will receive city incentives to keep the business open.
The Bryan City Council on Tuesday signed a five-year incentive agreement with Jim Lewis. The city will refund as much as 50 percent of its portion of annual sales tax generated by the store; Lewis will invest at least that much money in the store each year for upgrades.

Lewis has owned the building for 10 years and will operate the store as Village Foods Ltd., though the AppleTree name will remain until spring, city officials said. Lewis took over operation of the business Oct. 5, according to city documents, and all of the store's employees were expected to be retained.

As outlined in the agreement with the city, Lewis will get 50 percent of the city's sales tax revenue from the store if it employs at least 30 people, 40 percent if there are 19 to 29 employees and 30 percent with 15 to 19 employees. He will get no refund if the store has fewer than 15 employees, according to the agreement.

The amount of sales tax revenue the 55,000-square-foot store generates was unavailable late Friday.

City officials said the agreement would allow the city to keep an important building occupied and in business while maintaining its property and sales taxes and keeping its workers employed.

Bryan Development Services Planning Director Kevin Russell said allowing the building to be vacant wouldn't be good for the city's image. A shuttered building of that size in such a prominent location would convey a lack of growth and poor infrastructure, he said.

Instead, the sales tax rebate will allow Lewis to move forward with plans to upgrade and reconfigure the store and purchase new equipment, city leaders said. Among other changes, Lewis plans to add more specialty and organic products, officials said.

"That money has to be spent on [the store] and just can't go into his pocket," Russell said.

Store manager Jimmy Juenk said the ownership change and ensuing upgrades could attract more business.

"I'm looking forward to it just like everybody else is," he said.

Juenk said the store has been mostly the same for the 20 years it's been open.

"It's time for some change," he said.



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Cassie Smith

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