Lisle board signals support to extend downtown grant for 4700–4704 Main Street project
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Summary
The village board discussed and signaled support to extend a $165,000 business development grant awarded to the Arcelorno Restaurant Group for work at 4700–4704 Main Street, with staggered completion deadlines proposed for the restaurant and deli/retail portions.
The Village of Lisle Committee of the Whole discussed a request to extend a previously awarded business development grant for the property at 4700–4704 Main Street, commonly called the Fox Restaurant building. The applicant, identified in the meeting as the Arcelorno Restaurant Group and represented by Mr. Salerno, is asking the village to amend its grant agreement so the restaurant portion may finish by Dec. 30, 2025, and the deli/market portion by June 2026.
Why it matters: The downtown location has been highlighted repeatedly by trustees as important to downtown revitalization, and the grant money—$165,000 total—had been earmarked for multiple improvements including two restaurant grants ($50,000 each), a $15,000 retail grant and façade/retail-related funds. Extending the completion deadlines would preserve that earmarked funding while the applicant finishes construction.
Village staff briefed the board. Village Manager (staff reference) said the original grant, approved in January 2024, gave the applicant 12 months to substantially complete work with a manager-level option to extend three months; the applicant is now requesting a longer, phased extension to Dec. 30, 2025 for the breakfast/restaurant portion and to June 2026 for the deli and retail.
Trustees asked questions about precedent, program structure and the local funding balance. Trustee Olson said the board has typically granted extensions and praised the applicant’s past investments: “I don’t have an issue. I don’t think that this is an applicant that isn’t going to complete the project,” (Trustee Olson). Olson also recommended that staff consider policy changes—such as graduated extension amounts tied to elapsed time—for future grant requests.
Several trustees said they support helping the applicant complete the project but pressed staff for more details. Trustee Greco asked when the demolition permit was issued and noted the building permit was issued only recently; Greco said he was reluctant to approve a multi-year effective extension for a project that had not yet begun construction. Mr. Salerno told the board he is now fully engaged in the project, that the building permit has been issued and “we are under construction... this is the next project to get done,” (Mr. Salerno).
Board direction: Trustees gave staff “adequate direction” to prepare an amendment to the grant agreement reflecting the proposed staggered completion dates and to return to the board if changes to program policy are recommended. No formal final vote on the amendment was taken at the meeting.
Context and next steps: Staff said the $165,000 is currently earmarked from the business development/hotel–motel fund and will be carried into the next budget year if necessary; staff also said the fund holds a substantial balance beyond this award. Trustees asked staff to return with a clearer account balance and suggested a future policy review of the grant program’s extension terms.
Ending: The board moved on to the next agenda item after directing staff to prepare the draft amendment and to report back to the board for formal action.
