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CITY OF WEST CHICAGO
DEVELOPMENT COMMITTEE
AGENDA ITEM SUMMARY
ITEM TITLE:
AGENDA ITEM NUMBER: B.A.
Request for Oliver Square TIF Funds
West Chicago Jules LLC FILE NUMBER:
Mosaic Crossing Shopping Center
Asphalt Repair COMMITTEE AGENDA DATE: Dec. 14, 2020
COUNCIL AGENDA DATE:
STAFF REVIEW: Tom Dabareiner, AICP SIGNATURE 0) =
APPROVED BY CITY ADMINISTRATOR: Michael Guttman SIGNATURE
ITEM SUMMARY:
The owners of the majority of the Mosaic Crossing Shopping Center have entered into a ten-year lease with
Planet Fitness to occupy a portion of the former Hobby Lobby space. As part of the lease negotiations, the ten-
ant obtained a promise for certain improvements to the parking area and aisles located generally in front of the
store. Development Committee members will no doubt concur that the parking lot was in terrible shape prior to
the improvements, as remains true for much of the remainder of the lot.
The improvements to the parking lot include 130,000 square feet of new 4” thick asphalt, general repairs, seal
coating and striping of 39,500 square feet. The cost of the work totaled $209,308.00.
The City’s approved budget for the Oliver Square Tax Increment Financing District is $100,000.00, but the
budget did not earmark specific improvements. However, TIF funds are generally used to update property and
buildings, or otherwise make a site development-ready.
While the Mosaic parking lot improvements are eligible expenses, TIF funds are not recommended as a reward
to developers who chose not to perform routine maintenance. The lot was allowed to deteriorate over time
through basic lack of investment and was an eyesore for many years, perhaps contributing to the lack of ten-
ants.
Nevertheless, Staff understands that the improvements came about from a request of a potential tenant. Ra-
ther than award the full request, Staff considers 20% of the cost to be reasonable. This leaves additional funds
available for potential use in upgrading Mosaic Crossing for other possible tenants.
At the Development Committee’s September 14, 2020 meeting, members asked that a copy of the lease be
provided to Staff and the petitioner should pull the first permit for the project. Both requests have occurred.
ACTION PROPOSED:
Recommend award of $58,061.60 to West Chicago Jules, LLC, Northbrook, Illinois.
COMMITTEE RECOMMENDATION: