Grayslake village trustees have approved a redevelopment incentive of up to $155,000 to the owner of the plaza where the now-shuttered Piggly Wiggly supermarket was an anchor.
Mayor Rhett Taylor said the facade improvement reimbursement was favored over a sales-tax sharing agreement that originally had been sought by the property owner. He said the exterior improvements will benefit about nine businesses in the mall at Atkinson Road and Center Street.
“Part of the intention of this (deal) is to improve the economic climate by showing a business-friendly environment,” Taylor said during a recent village board session. “Another intention is to help drive up overall property values by improving the appearance of many buildings in town and driving up the value of those properties and surrounding properties, which should benefit the entire community.”
A new grocery store is expected to debut in April where the independently owned Piggly Wiggly supermarket had operated on Grayslake’s west side from 1993 to late 2012.
Vicky Kouantas, the owner and operator of Farmer’s Market Place and the mall, has said she plans to double the produce area in the former Piggly Wiggly space,
provide an in-store bakery and add a full-service delicatessen.
Comprehensive renovations are planned for the shopping center’s north and west facades. Grayslake officials said the mall owner must spend $80,000 on the work and will receive a maximum $155,000 from the village.
Village trustees voted 5-0 in favor of providing the facade reimbursement incentive, which was recommended by Grayslake’s advisory Economic Development Commission.
Farmer’s Market Place will have similarities to Mariano’s Fresh Market, Garden Fresh Market and Angelo Caputo’s Fresh Markets, according to Kouantas.Copyright © 2013 Paddock Publications, Inc. All rights reserved.