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Geneva council approves TIF inducement to explore adaptive reuse of 28 North Bennett Street
Summary
The Geneva City Council approved a resolution expressing intent to reimburse certain pre-development costs from TIF 3 for a proposed adaptive reuse of 28 North Bennett Street, signaling interest but not committing funds. Staff said more details are expected late January.
The Geneva City Council on Monday approved a resolution expressing the city’s intent to consider reimbursing certain pre-development expenditures from the Geneva Fox River redevelopment area (TIF 3) for the proposed purchase and adaptive reuse of 28 North Bennett Street.
City economic development staff said the inducement is intended to encourage the prospective buyer — described in staff materials as a well-known event organizer — to continue developing plans and hire professionals to refine budgets and scope. Kathleen Timoshenko, director of economic development, told the council that the resolution “puts a marker in the sand” to allow project proponents to incur certain soft costs now and potentially have those costs considered later if a redevelopment agreement is negotiated.
The inducement does not commit the city to provide funding. Timoshenko and other staff repeatedly stressed the step is preliminary: "We are not committing to any of those expenditures at this time," she said, adding the council can review specific requests if a formal proposal returns to the body.
Councilmembers pressed for limits on the discussion: the mayor clarified questions should be limited to the inducement and not to matters reserved for the Planning and Zoning Commission. Staff said they expect to bring more detailed materials back to the council in late January to determine whether a project is viable and whether a TIF application should proceed.
Public comment on the item was mixed. Bobbie Aldefer said she supported thoughtful development but urged the council to preserve public riverfront access and to address parking impacts near the proposed venue. City staff acknowledged those concerns and pointed to future review steps where parking and public-access impacts will be evaluated.
The council voted to approve Resolution 2025-146 by roll call. Minutes show the vote carried with affirmative votes and one member absent. The resolution expresses official intent only; any actual reimbursements or incentives would require later Council approval and formal agreements.
Next steps: staff said they will continue negotiations with the interested buyer, perform further project vetting and, if appropriate, return with a redevelopment agreement or a TIF application for council consideration.
