Title/Name/Summary
Chuck Lager’s - Inducement Agreement
History
Chuck Lager’s America Tavern is one of celebrity-chef Fabio Viviani’s restaurant concepts.
This proposed project includes the redevelopment of the former Granite City Food & Brewery space at 14035 South La Grange Road into an approximately 9,000 square foot restaurant establishment. Chuck Lager’s has not formally petitioned, but is working with staff on a preliminary basis.
Chuck Lager’s has requested to participate in the Village of Orland Park’s Economic Development Incentives Program to assist with their proposed project. The Back-Fill Vacant Restaurant Incentive Program enables the applicant to receive 50% of the sales tax generated at their location for ten (10) years up to a maximum amount of 25% of certified project costs or $500,000, whichever is less. The Inducement Agreement also includes the Orland Park Commercial Impact Program that allows for a 25% reduction on the permit and related fees. The Commercial Impact Program is estimated to save the project approximately $3,500. The following is a summary of the proposed terms:
Chuck Lager’s Project Build-Out - anticipated to be approximately $2,000,000.
50% sharing of sales tax.
Ten-year term - is consistent with previous Inducement Agreements.
Maximum return of 25% certified project costs or $500,000, whichever comes first.
25% reduction on permit and related fees (estimated to save the project approx. $3,500).
Job Creation (20 full-time, 40 part-time).
The proposed Inducement Agreement is attached.
Recommended Action/Motion
I move to approve a sales tax sharing Inducement Agreement with Chuck Lager’s, LLC as outlined above pending approval of all Village planning, zoning, and building requirements.