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Developer seeks amendment to TIF agreement for 3329 Ridge Road, plans breakfast restaurant in 2026
Summary
A representative of OTP RE, LLC requested a second amendment to a TIF redevelopment agreement for 3329 Ridge Road to fund additional improvements; the presenter said a breakfast restaurant is planned to open in late summer/early fall 2026 and the item is scheduled for board consideration on March 17.
A representative of OTP RE, LLC presented a proposed second amendment to the Tax Increment Financing Redevelopment Agreement for 3329 Ridge Road, describing prior investments at the site and requesting additional TIF-eligible funding for site improvements. The representative said the developer plans to open a breakfast restaurant in late summer or early fall of 2026 and asked the Committee to forward the amendment to the March 17 village board meeting for consideration.
The Committee did not vote on the amendment at the March 3 meeting; the representative’s presentation was accepted as part of the record and the item was placed on the March 17 VBM agenda. No specific dollar figure for the requested amendment was recorded in the minutes.
