Title/Name/Summary
Taqueria Los Comales - Inducement Agreement
History
Taqueria Los Comales is a family-owned restaurant that offers fresh authentic Mexican Food in a comfortable family environment at an affordable price. The business has been serving delicious tacos, tortas, burritos, and more throughout the Chicagoland area since 1973.
The proposed project includes the redevelopment of the former Dunkin Donuts located at 15609 S. Harlem Ave. into an approximately 2,508 square foot restaurant establishment. Taqueria Los Comales has not formally petitioned but is working with staff on a preliminary basis.
Taqueria Los Comales has requested to participate in the Village of Orland Park’s COVID-19 Economic Development Incentives Program to assist with their proposed project. The Back-Fill Vacant Restaurant Incentive Program would allow Taqueria Los Comales to receive 50% of the sales tax generated at their location for 10 years up to a maximum amount of $37,500. 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 $850. The following is a summary of the proposed terms:
Taqueria Los Comales Project Build-Out - anticipated to be approximately $150,000.
50% sharing of sales tax.
Ten-year term - is consistent with previous Inducement Agreements.
Maximum 25% certified project costs or $37,500, whichever comes first.
25% reduction on permit and related fees (estimated to save the project approx. $850).
Job Creation/Retention (12 jobs).
The proposed Inducement Agreement is attached.
Recommended Action/Motion
I move to approve a sales tax sharing Inducement Agreement with Taqueria Los Comales as outlined above pending approval of all Village planning, zoning, and building requirements.