Pace Owners Holding Contest to Give Away Their Rest.

This sounds pretty crazy but Jeff Snyder (L'Auberge del Mar in San Diego) and wife Kim, proprietors of State Street's Pace Food + Drink in Santa Barbara, have launched a contest to give away their two-year-old American restaurant. No strings attached. Reps for the eatery explain that the Snyders "created Pace as the type of restaurant they would enjoy and that their sons would take over. However, their sons have decided to choose other paths, leaving the Snyders looking for someone who will bring new energy to the space."

So, the Snyders have decided to hold a contest wherein the winner receives a one year paid lease on Pace, $20k to cover expenses, plus mentoring from Jeff, who has 35 years of experience in the industry. Applicants must pay $500 to enter, submit a YouTube video explaining why he/she should take over the space, and provide a detailed outline of the proposed concept. A group of 10 finalists will be narrowed down to five by the Snyders and a panel of food industry judges, and those five will come to Santa Barbara for an interview, walk-through, and cooking session. On June 1 the Snyders plan to announce a winner. Over the next year that individual will retool the space and assume the building's lease, which includes a beer and wine license. Want to win this restaurant? Enter here through May 12. [EaterWire]