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Committee recommends extension for Jordan Property Management’s dealership opening deadline
Summary
The committee approved a first amendment to the economic incentive agreement with Jordan Property Management LLC, extending the deadline for opening a dealership at 1163 Power Road to Feb. 1, 2026; staff said incentives are contingent on the business opening.
The Administration Finance Committee on Monday recommended approval of Resolution 66 R 25, the first amendment to the economic incentive agreement with Jordan Property Management LLC, extending the developer’s deadline to open a dealership at 1163 Power Road to Feb. 1, 2026. James, the village administrator, summarized the amendment and the project history, saying, “Nate Jordan…has been working on redeveloping the building at 1163 Power Road. It's a lovely green building, and he needs more time to complete his obligations.” He told the committee the amendment would allow Mr. Jordan until Feb. 1, 2026, to open his dealership. James also said there is no negative impact from granting the additional time because “there are no incentives given until he's open and operational.” Trustee Stromberg moved the recommendation and Mister Vitale seconded. Chair Trustee Wilson said the committee will forward the amendment to the Oct. 6 board meeting with a positive recommendation.
