A Jake’s Steakhouse in Galion is one step closer to becoming a reality.

The small Ohio-based restaurant chain looks to acquire and update Varsity Grille, 451 Portland Way N, with the total project cost at $470,171, according to a legal notice to run in Wednesday’s paper.

The city became involved with the project to help fill the gap in financing that Jake’s needs to acquire the building, Galion Mayor Tom O’Leary said.

Anthony Hoffman and Lisa Dye-Hoffman purchased the restaurant in 2006 when it was known as Jerry’s Colonial Restaurant.

In a January interview, Anthony said he wanted to sell the business to have more free time.

Lisa declined to comment, and the Inquirer is waiting to hear back from ownership at Jake’s as of Tuesday afternoon.

Wednesday’s legal notice states that city of Galion will request on or shortly after June 9 for the release of federal and state funds including two Community Development Building Grants: $140,000 in economic development funds and $10,000 from a revolving loan fund program. That will cover a portion of the project costs with the remainder handled by Jake’s.

“It’s been a painstaking process,” O’Leary said.

O’Leary said the city is looking to receive a “categorically exclusion” from the environmental review process in its request. Although the building is located in a flood zone, O’Leary said the city is aiming to get it excluded since the building will still be used as a restaurant.

Additionally, the city will still have a period for the public to submit written comments about the project as part of the review process for the city’s consideration up until June 9.

Jake’s Steakhouse was originally owned by Jerry Baker who opened the first Jake’s Steakhouse at Mount Vernon in 2001. Subsequent locations were opened at Ashland in 2004 and then at Wooster in 2007 — which relocated in 2012.