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Roselle to consider $500,000 TIF incentive for Dunkin' Donuts relocation at 403 N. Roselle Road
Summary
Staff presented a draft redevelopment agreement proposing up to $500,000 in TIF incentives to relocate a Dunkin' Donuts drive-through to a derelict site at 403 N. Roselle Road; incentives would be $400,000 at occupancy plus $20,000 a year for five years, contingent on continuous operation and ADA improvements.
Roselle community development staff presented a draft redevelopment agreement with Roselle Duncan LLC to relocate an existing Dunkin' Donuts into an underused site at 403 N. Roselle Road (the former Darrelac gas station). Staff said owner Amin Habib is under contract to buy the property for $400,000 and anticipates roughly $300,000 in TIF-eligible construction costs, yielding total TIF-eligible costs of about $700,000 within an estimated $2.6 million project.
The draft agreement would provide up to $500,000 in incentives: $400,000 paid to the owner upon issuance of the certificate of occupancy and an additional $20,000 on each of the five anniversary dates thereafter, conditioned on continuous operation as a Dunkin' Donuts for a minimum of eight years. The developer also agreed to complete required ADA-compliant sidewalk improvements and other site work. Staff said the proposed payments are dependent on construction and occupancy milestones and that the village’s economic development attorney and the developer’s counsel were finalizing language for next week’s packet.
Board members expressed general support and asked for final attorney review; staff indicated a final agreement would be provided for vote at the next meeting. No final incentive approval occurred Dec. 2.
