Does anyone know exactly how a TIF helps out a guy with a business like Chew Chew? Seems to me that (with or without a TIF) the result of 'redevelopment' (especially redevelopement without a PLAN) is higher rents that mom & pop type shops can't afford. How lucky we will be when our downtown is shiney and new and our mom & pop shops can't afford to stay. Do you think our little village can accomodate the outfits that can afford high rents, like Chipotle, Starbucks, Bennigans, etc. Do you think they would be here already if the market conditions existed for their success in downtown Riverside? What will happen to our shiney and new (and empty) downtown? I happen to like the mom & pop shops. I can get that Chipotle in North Riverside, Elmhurst, Glen Ellyn, Schaumburg, Vernon Hills, Hinsdale, Crystal Lake, LaGrange, Westmont, Oak Park, Oak Brook, Lombard, Wheaton, Merrillville, Indiana, Aurora, Warrenville, etc. etc. I wonder which village will be the lucky recipient of the Chew Chew? Chew on that!
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Chew Chew
(9 posts)-
Posted Monday Dec 4, 2006 10:11 #
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You said "Seems to me that (with or without a TIF) the result of 'redevelopment' (especially redevelopment without a PLAN) is higher rents that mom & pop type shops can't afford."
Is the alternative then to let the buildings fall down, as the building where Parallel 42, Blue Parrot are and Arcade Antiques was, is currently falling down?
Of course property owners need to maintain their properties. But that means the rents are going to go up, no matter what (do rents ever go down?) With money from a TIF that would be sent to other taxing bodies, the village can assist the owners in maintaining the properties and possibly keeping rents DOWN since the building owner would have less overall expense. Seems like diverting money away from other taxing bodies (including the state and county) is a good way to KEEP local businesses.
Posted Monday Dec 4, 2006 12:02 # -
Guess that is why there are so many of those darn Chipotles!
Posted Monday Dec 4, 2006 16:54 # -
Hey, why are you guys ripping on Chipotle? I happen to like them (in LaGrange and Oak Park I mean.)
Chris
Posted Monday Dec 4, 2006 22:30 # -
I have tried to talk to every business that has ever left town that I patronized. They invariably sited the Village and landlords as key problems. Who will eat at the Blue Parrot now that everyone knows what is going on inside that building. Pringles Flowers told me their tin ceiling constantly leaked and they could not get it fixed. Why are these two buildings allowed to do such things?
Posted Monday Dec 4, 2006 22:41 # -
I see the way some of these buildings have been run down and it's embarrassing (1 Riverside Road and whatever the building is called at East and Forest, where Arcade Antiques was and the Blue Parrot is: The Tower Building?) It's like the landlords or owners will be rewarded with financial assistance precisely because they let the buildings run down ("oh look, this building is blighted and needs structural and mechanical upgrades"). If the landlords took better care of these buildings, I don't think the tenants would be leaving.
And what was the deal with the Arcade Antiques space?
2/14/06: Riverside sues to clean up building
5/23/06: Riverside, building management company are due back in court on June 8
8/8/06: Riverside drops suit against building management firmSeems like part of the story is missing there.
Posted Monday Dec 4, 2006 23:05 # -
@Kim: "Does anyone know exactly how a TIF helps out a guy with a business like Chew Chew?"
That's a really good question and one I wonder about too. How does a tenant (Scott at the Chew Chew or David at Grumpy's) benefit in these cases, where they are leasing the space? The building owner might benefit from the creation of a TIF and through an agreement with the village, but how does that translate into keeping the little guy in town?
Posted Monday Dec 4, 2006 23:08 # -
Chris,
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If they so choose, the Village can cut deals directly with these businesses to rebate sales tax or subsidize rent with TIF funds (although the benefit of a sales tax rebate is limited because the Village probably only gets about 1 to 2% sales tax). I believe that this arrangement can be done exclusive of the landlord.
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The Village could also enter into three party deals with a business whereby the Village helps pay for building upgrades with appropriate commitments from the landlord and the business to maintain the business and the building for a period of time or forfeit their rebates. This type of three party deal could also be done in a new building.
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I am not necessarily advocating any of these alternatives.  I am simply trying to shed light on the matter.Posted Friday Dec 8, 2006 15:00 # -
Doug, thanks for the info. There's always more to the story than there appears to be.
Posted Friday Dec 8, 2006 15:39 #
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