Lake Zurich paved the way for numerous new businesses at the village board meeting, Monday night.
The board approved a Planned Unit Development for the 81,323-square-foot Bradford Town Crossing, at Quentin Road and Rte. 22, which has a Mariano’s Fresh Market as the anchor store. The village also approved a special use permit allowing Midwest Motors Inc. to operate a new and used luxury automobile dealership at the site currently occupied by Capaccio Brothers furniture store, 540 Cortland drive.
Prior to presentations by developers and a vote by the village board, residents spoke during public comment. The public comment centered on Midwest Motors proposal to relocate to Lake Zurich from Volo, with about half of the residents voicing support and the other half voicing concerns. The concerns included the number of cars parked outside the showroom, and property values.
Other residents expressed support for Midwest Motors.
"I'm in favor of both Bradford and Midwest Motors; it's upscale and very appropriate and will fit in. It's much more appropriate than empty vacant buildings, with weeds growing around, where there may be crime behind them," said Dale Perrin, executive director of the
Benjamin Ripstein, owner of Midwest Motors, told the board he is committed to Lake Zurich for the long term and promised that the business would continue to sell high-end vehicles and would not turn into the used car lot that some residents feared.
Ripstein explained to the board that the business setup, with a large showroom and small parking lot, would not be cost effective as a dealer of lower end cars.
He said his business, currently located in Volo, is Internet based, but he would like to attract more local clients, and wanted to park up to 20 cars outside.
"The cars I would be leaving outside would be no different than cars parked in a driveway. There would be no signs or balloons," he said.
Lake Zurich trustees approved the special use permit use permit allowing Midwest Motors to sell new and used luxury cars. The board also approved an economic incentive agreement with Midwest Motors. The agreement is for 10 years during which the proposed revenue share is an equal 50 percent split of eligible retail sale tax. The cap is $60,000 per year, and any excess sales tax revenue would go to the village.
Trustee Tom Poynton said the village does not like to give economic incentives, however they are necessary for municipaltities in Illinois.
"We rely heavily on other forms of revenue. These kinds of businesses are important to us . . . 50 percent of something is better than 100 percent of nothing," Poynton said.
The Lake Zurich village board also approved a Planned Unit Development for Bradford Town Crossing and rezoning of the site from R-1/2 Single Family to B-3 Regional Shopping District.
Mariano's Fresh Market will be the anchor store, which is described as a full-service grocery store. The parent company is Roundy's and the first area store opened in Arlington Heights in 2010; with subsequent stores in Vernon Hills, Chicago and Palatine. Each store hires about 400 employees.
Bradford Town Crossing will also have a Chase Bank and a PNC Bank.
Trustee Jeff Halen pointed out to residents that economic incentives for the development would be determined at a later date.
Mariano's is expected to open in the fall of 2014.
At 9:22 a.m., a typo in this article was corrected. Bradford Town Crossing will be at Quentin and Rte. 22, not Rte. 12.