Narrative - VaultCourtyard
Meridian Development Corporation
104 E. Fairview Ave. #239
Meridian, ID 83642
208.477.1632
February 22, 2021
RE: Façade Improvement Grant – Courtyard at the Vault
Dear MDC Partners,
I want to begin by thanking you for your continued partnership with my wife and I in renewing
Old Town Meridian. To think that we have spent almost 9 years creating value in Old Town is
amazing. We are NOT finished!!!
Lori and I would ask that you consider this submission for a Façade Improvement Grant for the
‘Courtyard at the Vault’ expansion. This expansion has been in planning for over 12 months.
The development team is as follows:
Earl Stonebreaker, Treasure Valley Handyman, General
Contractor $ 2,800.00
Blaine Johnston (President Historic Preservation
Commission), Architect $ 2,000.00
AHJ Structural Engineers, Steel Pergola Design,
Fabrication $ 2,500.00
JC Eagle Concrete, Concrete Patio $ 17,976.00
Hendee Enterprises, Shade/Sail Fabrication $ 917.00
Lightning Electric, Inc $ 8,700.00
Frontier Fence, Pergola Steel Fabrication and
Installation $ 34,924.00
Total $ 69,817.00
The quoted/estimated cost for the project is $69,817, not including city permitting. Our desire
is to secure a 50% façade grant for this effort. Only two of the final estimates have been
provided with this application as the other quotes have slight dependencies on permitting from
the City. Our expectation is to come in under budget as we did on the original Vault restoration.
Lori and I are also making an additional $75,000 investment into a complete bar expansion
(with liquor license) to complete the Vault experience. This effort is being done in conjunction
with the Courtyard, and will extend our hours to 10pm, six days a week, adding to the
destination fabric of Old Town Meridian.
The schedule for this project is dependent on weather for the patio pour. It will be four weeks
from concrete pour to complete. We will be submitting our stamped plans (attached) to the city
upon grant approval from MDC. We expect the concrete to be poured in late March, with an
anticipated grand opening on May 1, 2021.
Our desire, with this project, is to accomplish the following:
1. Tear out the asphalt parking and pour a premium concrete patio with a full outdoor
courtyard being installed on the site
2. Transforming our back alley from blight and trash access to a destination location for
partners on the block.
3. Increasing (almost 1,000 sqft) multi-use space along 2nd Avenue
4. Lead other property owners to consider how to maximize alley property for the benefit
of their businesses/tenants
As with our historic submissions, we intend to deliver the following:
Historical Structure – The Vault continues to be the gold standard for other MDC projects to
aspire to. Our last effort resulted in an Orchid Award from the State of Idaho. We anticipate
that this project will only encourage more property owners to be creative and invest in their
own properties. The architecture design includes arch railings that follow the same form and
pattern of the historic Vault building.
Public Benefit – The Vault looks at the Courtyard as an expanded exterior space for patrons
along Idaho/2nd Ave. We currently offer dine in options for Paulies, Deja Brew, Heritage Hop
Haus, Sushi Shack and Truffle Etc at our lounge. The Courtyard only expands the number of
patrons we can support. We also look at 2nd Ave as a strategic place to invest in more publicly
accessible space. This stretch of Old Town is only going to grow in influence as new
development projects come online. Having more locations for Old Town residents to stay and
enjoy Old Town is crucial.
Cost to Benefit – We continue to focus on bringing value to Old Town Meridian. We work with
local contractors and service providers that provide best value to our projects. The Vault brings
in travelers from across the US weekly to invest and spend in our city. We also are making the
additional bar expansion during this project which results in less than a 25% match of invested
dollars by us from MDC in the overall effort to grow economic development in Old Town
Meridian (we are seeking only $27,400 against a total project cost of $129,800)
Eradication of Slum and Blight – This is a big factor for this project. We feel that transforming
our back alleys is crucial to our success as a downtown. We have seen the success happening on
the Station 93 project…and we want to continue that on Idaho/2nd Ave. This project sets the
stage for a vibrant walking/downtown experience that extends from 2nd Ave to Main St.
Individual applicant vs. joint applicants – While we are an individual applicant, we NEVER do
anything that is ONLY a benefit to our holdings and businesses. Our track record of investment
in Old Town Meridian is unmatched. We will continue to use the Vault as a resource for building
in our community. The Courtyard is simply an extension of that mission.
Again, thank you for your consideration. Please feel free to contact me with any specific
questions about this initiative.
Joshua Evarts
208-631-9229
joshevarts@gmail.com