Lombard Village Board of Trustees to vote on economic incentive agreement for grocery store
The Lombard Board of Trustees will meet at 7 p.m. Thursday, June 30.
The Lombard Village board of trustees meets at 7:30 p.m. on the first and third Thursday of each month in the Board Room of the Village Hall, 255 E. Wilson Ave.
Here is the agenda as provided by Lombard:
Thursday, June 30, 2016
Village of Lombard
255 East Wilson Ave.
Lombard, IL 60148
Lombard Village Hall Board Room
Special Meeting Board of Trustees
Village President Keith Giagnorio,
Village Clerk Sharon Kuderna,
Trustee Dan Whittington, Trustee Mike Fugiel,
Trustee Reid Foltyniewicz, Trustee Bill Johnston,
Trustee Robyn Pike and Trustee Bill Ware
Special Meeting Board of Trustees Meeting Agenda June 30, 2016
I Call to Order
II Pledge of Allegiance
III Roll Call
IV Public Participation
160192 Bradford Lombard 1 LLC (Mariano’s) Economic Incentive Agreement
Recommendation from the Economic and Community Development Committee to approve an economic incentive agreement for Bradford Lombard 1 LLC relative to the construction of a new 74,000 square foot Mariano’s grocery store on the property located at 345 W. Roosevelt Road, with an estimated project development cost of $25,500,000. The economic incentive that is being provided pursuant to the agreement is $3,000,000, with interest accruing thereon at the rate of six percent (6%) per annum until the entire economic incentive (both principal and interest) is paid in full, or the agreement terminates by its terms, whichever occurs first. The economic incentive will be paid solely from a portion of the real estate taxes, sales taxes and places of eating taxes generated from the subject property. The agreement also provides for the Village to facilitate and construct certain roadway improvements within the right-of-ways of Finley Road and Roosevelt Road abutting the subject property, at the Village's cost. (DISTRICT #2)
5/4/16 Economic & Community
Organizations in this Story
255 E. Wilson Ave.
Lombard, IL - 60148
255 E Wilson Ave
Lombard, IL - 60148