Speedway fueling center proposed for East Dundee

East Dundee officials are finalizing a deal with Speedway LLC to build a fueling center in the village's Terra Business Park.

The project, proposed for the northwest corner of Christina Drive and Route 72, would include a 4,600-square-foot convenience store with a cafe, 10 gasoline pumps and four commercial diesel lanes, said Jennifer Johnsen, deputy village administrator. It is expected to generate more than $400,000 in annual sales tax revenue.

If the village can agree to terms of a redevelopment agreement with Speedway, construction would begin this year and be complete in the spring of 2018, Village Administrator Bob Skurla said. Company representatives declined to comment.

The Ohio-based company is seeking financial assistance from East Dundee through business development district taxes, home rules sales taxes and shared sales tax rebates, Johnsen said. Earlier this week, officials said negotiations thus far indicate the village could agree to use those revenue sources to reimburse Speedway for up to 40 percent of the project costs, capped at $2.5 million, over 15 years.

That means the project would likely put about $240,000 in the village's coffers per year during the rebate period, Johnsen said, and the rest would go back to developers. Trustees are expected to vote on a redevelopment agreement at an upcoming meeting.

The proposal also includes plans to improve the intersection and add new signalization for easier access into and out of the business park. Skurla said the Illinois Department of Transportation may agree to to help fund some of those improvements.

Village President Lael Miller said complementary businesses, such as a car and truck wash, have expressed interest in moving into the business park if plans for the fueling center move forward.

"This is one thing that spurs development that's going to roll down (Route) 72," he said. "Without this (project), those don't happen."