Rocky Mount City Council agreed Monday to administer a state economic development grant intended to create more than 20 jobs at a former downtown landmark.

The $250,000 N.C. Rural Economic Development Center grant will go toward the renovation of the former Carleton House motel and restaurant into the new Four Seasons Restaurant and Conference Center.

Business partners Mildred Walker, Toney Vaughan and Kochie Richardson purchased the building from N.C. Wesleyan College in December with plans of renovating the property at 215 N. Church St. and opening an upscale restaurant and conference center.

The $250,000 incentive requires a 100 percent match from the business owners and $8,200 of in-kind services from the city to administer the grant. If the owners fail to hit and maintain their stated job creation target of 21 full-time positions for at least six months, the grant contract stipulates that a percentage of the money will have to be repaid.

The Carleton House renovation project is expected to cost about $1 million in total, according to plans Walker, Vaughan and Richardson submitted to the city. The owners said they want to open a new restaurant, lounge, banquet hall and hotel.

Walker, the owner of a salon and catering business in Raleigh, supplied the funding for the business venture through Trinity Investment Group.

Vaughan had operated the Four Seasons Restaurant & Catering, which was located in the Gold Rock community for 10 years, and most recently, in the Battleboro community. The restaurant closed two and-a-half years ago, but the catering business has continued.

“The current plans include restoring the former Carleton House Restaurant with a menu sure to please even the most seasoned connoisseur,” he said after the purchase was finalized in December. “(We’re) promising to serve entrees appealing to all lifestyles, including business colleagues, romantic dinner companions, Saturday family breakfasts and the Sunday brunch crowd.”

Vaughan said the banquet and meeting facilities will hold weddings, anniversaries, family reunions and business meetings.

The Rural Center had designated funding for the redevelopment of the Carleton House two years ago when former basketball star Phil Ford was working to renovate the restaurant.

Ford dropped the project in July 2008 after he was unable to secure a loan for the downtown revitalization project through the downtown Rocky Mount Loan Pool.

N.C. Wesleyan College used the Carleton House facility as dorm space for two years after the restaurant and hotel closed in February 2003 following more than 40 years of business.

The city council also agreed during its meeting to close part of Main Street from East Thomas to Goldleaf streets Wednesday for a ceremony to be held at 1 p.m. celebrating the Douglas Block redevelopment project. Work began on the project last week.