Argyle approves $100k grant for new restaurant

The Argyle Town Council on Monday night approved a $100,000 grant to jumpstart a new restaurant.

Local restaurateurs Marty Bryan, Brian Gasperson and Alan Mann of Circle Star Brands recently broke ground on Cactus Canyon, a future “mid-scale” Tex-Mex restaurant that will serve a variety of fajitas, tacos, enchiladas, margaritas and “some uniquely-inspired Tex-Mex grill items,” Bryan said in a previous interview. It will be located on the north side of FM 407, near The Well church and a future Argyle ISD campus.

Circle Star Brands requested financial support from the Argyle Municipal Development District to help the company get the restaurant up and running as soon as possible.

“Given then exorbitant amount of costs to build a restaurant these days, the town is investing in us in hopes that their support is going to be paid back far greater,” Bryan said.

The Town Council approved a MDD Grant and Performance Agreement for $100,000, contingent upon Cactus Canyon obtaining a certificate of occupancy within one year of the approval and upon the restaurant maintaining several performance targets: new capital investment of $7 million, new annual taxable sales of $4 million, 20 new full-time jobs with an average annual salary of $40,000 and 40 new part-time jobs with an annual average salary of $20,000.

During Monday’s council meeting, Gasperson said the restaurant is planning to open in October 2024.

Bryan said Circle Star Brands is looking forward to bringing something new to the Argyle area.

“We’re just excited to offer another unique experience and provide an amazing Tex-Mex experience,” Bryan said. “We’re really in the lifestyle business, opening different brands to give people unique experiences and help people celebrate their lives.”

The Cactus Canyon project is the first time the MDD has awarded such a grant. Later in the council meeting, the council considered a new incentive policy and application as recommended by the MDD Board that would formalize the process for other businesses to also request similar grants. Such performance-based grants would be modeled after similar programs used in nearby communities, and they would consider new capital investment, new annual taxable sales and new jobs creation. All grants would be capped at $100,000, and all decisions would be entirely in the MDD Board’s discretion.

Council members recommended some revisions be made to the policy and tabled the item for a future meeting.