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Council postpones votes on two downtown TIF redevelopment forgivable loans
Summary
Two separate downtown redevelopment agreements — for 206 East Lincoln and for 323/333 East Lincoln — were discussed and broadly supported but postponed pending Joint Review Board feedback; both projects involve forgivable TIF loans for life-safety improvements such as sprinklers.
The DeKalb City Council discussed two downtown redevelopment proposals that would use TIF forgivable loans to pay for life-safety improvements but postponed action until the Joint Review Board (JRB) and other taxing bodies complete informal review.
City staff described both projects as significant downtown investments. The first, a proposed development agreement with 206 East Lincoln LLC, would provide a forgivable TIF loan of $98,000 tied to installation of a fire suppression system required for a planned restaurant use in the former Eduardo’s space. Staff said the property had an earlier forgivable loan (about $216,800) approved in 2020 to rehab the second floor and that tax increment collections to date have partially amortized that prior loan. The new proposed $98,000 loan would be amortized by expected new sales tax revenue over 10 years if the restaurant opens.
The second proposal, a development agreement with Long Family Management LLC covering 323 and 333 East Lincoln Highway (the former McCabe’s building and adjacent space), would seek a forgivable TIF loan of $200,000 to cover costly sprinkling and alarm installations in large assembly spaces. Staff said the combined request for the two downtown projects amounts to roughly $298,000 in TIF forgivable loans; council staff said they have set aside funds and believe the TIF budget can accommodate both projects.
City staff reported they had circulated materials to JRB members and expected additional review comments; the mayor recused himself from participation in the TIF items and the council agreed to continue both resolutions to a later meeting (the staff noted a JRB follow-up meeting on the 24th). Council members expressed support on the record: Alderman Larson said filling long-vacant storefronts is valuable and that DeKalb can support another restaurant; Alderman Walker and others complimented the Long family’s commitment to downtown investment and confirmed a tenant has signed a multi-year lease pending life-safety work.
Both resolutions were continued/postponed by council motion, and staff said they will return the items after JRB review so vendors and developers can continue planning.
