West Dundee offers incentives for pizzeria to upgrade former Francesca's site
With the shuttered Francesca's Campagna building under new ownership, West Dundee is offering financial incentives to help transform the downtown space into a pizzeria with upper-level apartments.
Joe and Anne D'Astice, operators of Woodfire Brick Oven Pizza in Rockford, bought the site at 123-127 W. Main St. earlier this year with the intention of opening a second location in West Dundee. But the visually prominent building first needs a "complete rehabilitation" - a project that brings their investment higher than $1.9 million, Community Development Director Tim Scott said.
To help offset some of those costs, trustees on Monday unanimously approved an economic incentive agreement with the owners, who are operating as Nemo Properties LLC. That deal includes a grant of up to $40,170 for facade improvements and code-compliance construction.
West Dundee also is offering a 10-year loan of $350,000, for which the village will buy down the interest rate from 5.5 to 4 percent, according to the agreement. Half the sales tax revenue generated at the site for seven years will go toward repaying the loan.
"Woodfire's presence will replace the void left by the departure of Francesca's," Scott said in a memo. "Beyond serving a unique downtown niche, the proprietors' substantial investment reflects a belief in, and a commitment to, West Dundee."
Work is underway to gut the building and combine the former Francesca's restaurant with the vacant retail space next door, village officials said. Woodfire will take over that first-floor space, and four apartments - one studio, two one-bedroom and one two-bedroom - will be constructed on the second floor.
Francesca's had been a staple of the village's downtown for nearly 18 years before it ceased operations in December. The restaurant's closure came as a surprise to West Dundee officials, who said they had been in the midst of discussing potential renovation and expansion plans with the company's leadership team.
It wasn't long before a handful of restaurant operators expressed interest in the building, which was for sale at the time. Scott said he immediately knew the D'Astices would be a good fit.
Woodfire's cuisine will complement the other downtown businesses, he said, noting the business also is expected to generate "noteworthy" tax revenue for West Dundee.
The Italian restaurant serves specialty wood-fired pizzas, sandwiches, handmade and imported pastas, salads and appetizers. Operators said it will be open daily for lunch and dinner.