Lake Zurich aims to stimulate downtown growth
As part of an ongoing project, the Daily Herald asked local business and village leaders about what kind of economic development projects were on the way in their communities.
Here are the answers from Lake Zurich Village Manager Bob Vitas.
Q. How do you go about supporting business development in your community?
A. I think first and foremost the key to business development is the approach and our approach to new business development, like the approach with business retention, is first to be open with them as far as what Lake Zurich has to offer them as businesses.
Q. What is currently in the works (ground has been broken or will be in the next couple months)?
A. At this point in time, the former Kentucky Fried Chicken retail establishment is being torn down, and in its place a new Sonic restaurant is being built and is scheduled for completion in early August. There is a new furniture store moving into the former Wickes location.
Q. What is in the planning stages?
A. There are a lot of projects in the works from the last fiscal year, that, because of the economy, are on hold. Robin America was planning an expansion, but that is on hold. There are two senior facilities that are approved, but on hold because of the economy. In terms of the downtown, the two retail store sites that the village put under lease about two months ago (MyFlavorit Place and Delicious Redds), those look like they will be coming online soon. (Equity Services Group) continues to work through designs for their project for blocks A and B, and C and D (in downtown Lake Zurich).
Q. What is your town's biggest economic development wish?
A. I think right now our greatest concern, because the downtown is actually part of an existing development agreement, downtown will always be number one. Outside of the downtown I think seeing something happen with the former Kmart site, the Omega site and the BP gas station site.
Q. What is your community's single greatest asset or selling point to potential developers?
A. Probably the single greatest asset of this community is its strong sense of community and diversity, both residentially and commercially. And of course the schools, we have outstanding schools.
Q. Have the challenges presented by the current downturn forced you and your community to approach economic development differently? What are the changes and how well are they working?
A. I think everyone is faced with the same problem right now and that's that growth has stalled. Projects that were planned to go that did not start or are on hold. I think our single greatest challenge of course is going to be a financial one, much the same that school districts across the state are facing. We've shifted more focus and attention toward economic development. We're studying the corridors in terms of the downturn and assessing what we can do to stimulate growth.