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Committee recommends amendment to redevelopment agreement to add Benny's and allow up to $100,000 TIF reimbursement
Summary
The Administration Finance Committee voted to recommend a first amendment to a 2022 redevelopment agreement that adds FTP Nest Cafe LLC (Benny's) as a party and authorizes reimbursement of up to $100,000 from available tax increment; the full board will consider the resolution Aug. 18.
The Administration Finance Committee on Aug. 4 voted to recommend approval of Resolution 50 R 25, a first amendment to a 2022 redevelopment agreement that adds FTP Nest Cafe LLC (doing business as Benny's at Nest) as a party and allows reimbursement of up to $100,000 from available tax increment financing. The committee forwarded the resolution to the village board with a positive recommendation for the Aug. 18 meeting.
Why it matters: The amendment would enable the business to construct an enclosed patio with overhead doors to help manage amplified live-music events and fund related parking-lot lighting and other project items, while using previously authorized tax increment revenues to reimburse eligible improvements.
James Richter, the village administrator, told the committee that the original agreement (approved in February 2022) covered redevelopment of the former Bergner's at the Muchesney Town Center; the project converted about 87,000 square feet to a self-storage facility and other uses and later brought Benny's at Nest as a tenant. Richter said, "the first amendment will reimburse developer for up to a $100,000 of their improvements." He said the amendment adds FTP Nest Cafe LLC as an additional party to the agreement to reflect the café/bar operator's investments.
Richter described the immediate project elements as an enclosed patio with overhead doors to assist with live events and to control sound, enhanced parking-lot lighting, and completion of several outstanding items from the original redevelopment work. The staff report recommended approval and the committee recorded no questions or objections before voting to send the resolution to the board.
What the action does and does not do: The committee's recommendation does not itself authorize payment; it sends the amendment to the village board for final approval. The staff presentation described the reimbursement as dependent on available tax increment under the redevelopment agreement; no new funding source beyond the previously authorized tax increment financing was identified in the committee discussion.
Next steps: Resolution 50 R 25 will be considered by the village board at its Aug. 18 meeting; the committee recommended the board approve it.
