New Rosemont Moretti's delayed, so subsidy cut by $200,000
Rosemont's pledge to give the owners of Moretti's $500,000 over four years to help pay for improvements of a new restaurant is being cut by $200,000.
The original deal, inked last December, called for the strip mall restaurant at 9515-9519 W. Higgins Road to be open by July 1. But since interior renovation work hasn't yet begun, a portion of the funds is being cut, while the deadline to open is being extended to Jan. 6, under terms of an amended agreement approved this week by the village board.
The agreement now stipulates Moretti's owner Ala Carte Entertainment will get $100,000 when it opens, $100,000 a year later, and $100,000 a year after that. Some $1.8 million in renovations are planned.
The project has faced delays as Ala Carte has been busy opening other restaurants, but officials say work is expected to begin on site within the next two weeks.