Prospective tenant for Gurnee Mills drops out
Gurnee's plan to give Gurnee Mills $1 million in public money to help pay for the $6 million renovation of the mall's interior had to be altered Monday night because one of the prospective tenants has dropped out.
Gurnee Mills has been trying to lure two national retailers to fill the former Sports Authority and T.J. Maxx spaces.
The plan approved in February said Gurnee Mills would get to use the public money only if the mall were successful in filling both of those spaces. The board's action Monday night changes that so now Gurnee Mills is required to fill only the former Sports Authority location.
Village Administrator Patrick Muetz said it was unfortunate that the tenant had dropped out but the renovation project was still important enough that the village should still pay the amount it agreed to.
"It's important for us to keep the economic engine going," Muetz said. "It's important we continue to partner with them and keep the mall continuing to look good."
The remodeling plan calls for new flooring, lighting, ceilings, paint, skylights and signs near Entrance A and other mall areas, according to village documents.
Plans also call for a new theme for the Dine-O-Rama food court.
Muetz added that Gurnee Mills is looking into transforming the vacant wing of the mall into more of an entertainment destination instead of a big retail store. He said recent research suggests that the U.S. might be overbuilt when it comes to retail space and that some experts say in the next five years 25 percent of the malls in the county will close.
Under the deal, Gurnee Mills would be reimbursed a maximum $250,000 annually over four years.
While the name of the tenant that dropped out from moving into the old T.J. Maxx space was not announced, the village board may have inadvertently revealed which national retailer will move in to the vacant Sports Authority location.
During the discussion, Trustee Greg Garner asked if Dick's Sporting Goods was still coming to the mall.
Mayor Kristina Kovarik replied that hasn't been announced yet.