Hoffman Estates mayor touts new businesses in state of the village address

Hoffman Estates Mayor William McLeod at his annual update breakfast touted a number of new businesses ready to move into the village.

He made his state of the village speech in front of about 120 people on Wednesday morning at the Sears Centre. McLeod mentioned that since the village took over the arena and installed new management, the arena has exceeded projections.

When factoring in ancillary revenues, like the entertainment tax and food and beverage tax, the arena did not lose money at an operational level, McLeod said. That would be the first time the building has been in that financial position since opening in 2006. The operational number does not include money owed on the construction loan.

“The 2010 operations is essentially a break-even proposition, with 2011 projections similar,” McLeod said.

The Hoffman Estates Chamber of Commerce organizes the annual event, providing members an update on the village's economy.

McLeod said the addition of companies such as Big Kaiser Machine Tooling has brought an influx of “high-quality jobs” to the village. McLeod defined those positions as high-tech jobs that require applicants to have computer skills.

Highlights from McLeod's presentation include:

Ÿ McLeod said the village could begin engineering work on upgrading an interchange at Barrington Road and the Addams Tollway after the village signs an agreement with the Illinois Department of Transportation. The project could cost $50 million to $72 million, McLeod said.

“When constructed, the project will complete a full interchange at Barrington Road, which will provide new ramps to and from the west making I-90 access much more convenient from Hoffman Estates,” McLeod said.

Ÿ The former Harlem Furniture store at 31 Golf Center will become a Japanese restaurant.

Ÿ Many strip malls in the village will undergo facade improvements.

Ÿ Village officials met with bank and Meijer representatives last week to talk about the site off Barrington Road. The bank and Meijer own about 40 acres. McLeod said Meijer and the bank seem determined to wait to build. The delay has hurt other businesses that have opened. The store owners wanted to capitalize with Meijer as an anchor for the development.

“You just don't want to rush something,” McLeod said. “You want something that's going to be sustainable for the long term.”

Ÿ McLeod remained adamant that the shuttered La Strada restaurant near the Meijer site will eventually reopen as a new restaurant.

Ÿ The organizers for the Saddle Room, the restaurant with an off-track betting parlor, may finally have their funding. The restaurant was supposed to open last year near the Sears Centre. Credit problems have delayed the project.

Ÿ McLeod reacted to the census numbers, released last week, and said he surprised the white population didn't dip more than 9.7 percent. He talked about the “huge Asian community.” He also mentioned Tuesday night's election in Chicago, where voters elected Indian-American Ameya Pawar for alderman in the 47th Ward.

“You'll see a Muslim mayor come up here and do the state of village speech — that's the way America's changed,” McLeod said.