MetroCentre-Mayflower Pact – 1984

MetroCentre-Mayflower - 1

MetroCentre-Mayflower - 2

Source: Rockford Register Star June 20, 1984

Main Event

Main Event

By Joe Lamb

“Ownership of the Main Event is changing hands, and the downtown Rockford restaurant is closed for remodeling, a key investor said Monday.”

“The restaurant’s landlord is the MetroCentre Authority.”

“One of the current partners is purchasing the interests of some other partners,” said Rockford lawyer Steven P. Zimmerman.”

“Zimmerman is a partner in Downtown Sports Club Inc., which leases the restaurant space and facilities from the MetroCentre Authority.  He declined to discuss specifics of how the ownership is changing.”

“Signs reading “Closed for Remodeling” greeted customers Monday at the parking ramp restaurant at 102 N. Main St.”

“Zimmerman’s corporation has operated the restaurant since May 1986 under a lease agreement with the MetroCentre. The agreement calls for rental payments of $20,000 a year plus a percentage of gross sales.”

Source: Rockford Register Star July 19, 1988

MetroCentre-Mayflower pact

MetroCentre-Mayflower [t 1

Location 102 N. Main St./301 W. State St. (same location, both addresses)

Defined by as “Urban Mixed-Use Parking Garage”  January 1986 a building permit was issued for a restaurant, $222,000.  No occupant 1984, 1985,

“Centre-Mayflower pact angers restaurateurs” from Rockford Register Star June 20, 1984

“Downtown restaurateurs started a slow burn Tuesday after learning the MetroCentre Authority plans to spend $500,000 to entice the Mayflower Restaurant into opening a downtown business.”

“The restaurant would be located on the first floor of the parking deck being constructed by the MetroCentre Authority at State and Main Sts.”

MetroCentre - Mayflower  pt 2

“The MetroCentre money comes from Roy Fridh, a limited partner in the construction and ownership of the incomplete downtown parking deck. Fridh paying the MetroCentre so he in turn can receive the depreciation tax benefits from the building.”

“Logan said he opted to negotiate with the Mayflower and not seek bids from other restaurants because he wants to guarantee that the restaurant that opens in the parking deck is a well-known high-quality local business. The Mayflower has been in business in Loves Park for 50 years.”

“But downtown restaurateurs see the move as bringing a new competitor to the area and giving him an unfair advantage,”

Source: Rockford Register Star June 20, 1984