Geneva may give financial aid to get Dunkin' Donuts at vacant gas station
Geneva may offer financial aid to a company that wants to open a Dunkin' Donuts on the site of a former gasoline station.
The committee of the whole will review the proposal at its meeting at 7 p.m. Monday at city hall, 22 S. First St.
According to a memo in the committee's meeting packet, State Street Coffee LLC - The Hari Group would put the store at 206 E. State St. The station, including a convenience store, closed in 2014 and has been vacant since.
The Hari Group owns several Dunkin' Donuts franchises in the area, including ones in St. Charles and Batavia. It also owns other franchises, including McAlister's Deli. Buffalo Wings and Rings and Tilted Kilt restaurants.
Hari Group asked for $250,000 in city aid for either retrofitting the store building or demolishing it and constructing a new one.
The proposal calls for the city to give a grant of $70,000, which is equal to 10 percent of the purchase cost. The city would also rebate half of the sales tax the business generates, as much as $102,000, to help pay for remodeling.
The site is in the Geneva Fox River Redevelopment Area tax-increment financing district. The city established the TIF district in 2016.
In the TIF district, the amounts of property taxes sent to governing bodies, including the city and the Geneva school district, was frozen at the 2016 level. Any amounts above that are deposited in to a city-controlled fund that is to be spent on projects that improve the value of property in the TIF district. That's where the city will get the money for the $70,000 grant.
A special-use permit has been requested to have a drive-up window. More information about the design can be found under the "Development Projects" part of the city's website at geneva.il.us.