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Village approves second amendment to Freddy’s incentive; owner met project‑completion requirement and qualifies for full $40,000
Summary
Village staff reviewed invoices and determined Freddy’s Off the Chain met the eligibility threshold for an additional grant payment; trustees approved a second amendment to the incentive agreement to remit an additional $20,000, for a total of $40,000.
The Village of Oswego approved a second amendment April 8 to an economic incentive agreement with Freddy’s Off the Chain Mexican Cuisine Inc., clearing the way for an additional $20,000 incentive payment.
Economic development staff reviewed invoices supplied by the owner and identified more than $250,000 in eligible expenses related to building improvements, outdoor seating construction, concrete and plumbing work, and other eligible costs. Staff recommended approving the additional $20,000 payment because the owner exceeded the program’s threshold for the supplemental award. The board had previously approved a $20,000 incentive; the second amendment raises the total incentive to $40,000.
Staff told the board the business is open and met the amended requirements of the incentive agreement. If trustees approve, village staff said they intended to remit the combined $40,000 reimbursement later in the week. The board approved the ordinance amending the incentive agreement by roll call. Staff noted that after this disbursement, the village’s remaining balance for that grant program would be roughly $61,395.
