The owner of Carrigan's Public House will receive up to $150,000 in incentives from the city of Birmingham to open a new yet-to-be-named restaurant and bar in Lakeview.

The Birmingham City Council on Tuesday approved giving the developer of the restaurant property a sales tax abatement, amounting to 40 percent of actual sales tax revenue generated by the new restaurant, which will be paid annually for four years.

Restaurant owner David Carrigan has operated Carrigan's Public House, a gastropub located in the century-old Blackwell Building on Morris Avenue, for more than three years.

At a previous meeting, Carrigan told city councilors that he put plans for a second downtown restaurant on hold when he learned the former location of Plant Odyssey at 2910 Six Avenue South was for sale.

"I think it is a very unique property situated in a very strong part of the city," he said.

Plant Odyssey has been vacant for about four years.

Carrigan estimated improvements to be building will cost approximately $2 million. He sought a tax rebate from the city due to the extent of work that needs to be completed to the existing building and property, including the addition of off-street parking and the extension of the sewer line.

According to the project agreement, the new restaurant will create 25 full-time jobs at an annual payroll of approximately $750,000. The restaurant is expected to generate an estimated $100,000 in new sales tax revenue annually.

Under the terms of the agreement, the developer must provide the Birmingham Construction Industry Authority a plan for the hiring of minority or woman-owned contractors and subcontractors and submit reports to the BCIA.

The developer also agreed to encourage general constructors he hires to buy and lease materials from Birmingham-based vendors and to hire city residents.