November 24, 2024
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Streator council to consider $30,000 incentive to bring Arby’s

Restaurant would locate at corner of Bloomington Street, Oakley Avenue

By Derek Barichello
A developer is looking construct a new Arby's restaurant at the corner of Oakley Avenue and Bloomington Street, formerly Gautschy's Corner.

A developer is looking construct a new Arby's restaurant at the corner of Oakley Avenue and Bloomington Street, formerly Gautschy's Corner. (Derek Barichello)

The Streator City Council will consider Thursday a $30,000 incentive to help bring an Arby’s restaurant to the city.

Arby’s is looking to move into a location at the northwest corner of Bloomington Street and Oakley Avenue, at the former location of Gautschy’s Corner.

Streator Equity Group LLC recently purchased the former gas station property from the Robert and Eileen Gautschy Trust. The developer originally considered remodeling the existing building, City Manager David Plyman said in a memo to the City Council. Plyman said city staff offered the facade grant program as a possible incentive.

Plyman said the property is located in the tax increment financing district and would be eligible for up to $30,000 through the facade program.

Instead of renovating the existing building, the developer decided to demolish the structure and construct a new building for an Arby’s, according to the memo. New construction will generate about $15,000 in property tax increment, larger than a remodeling project, Plyman said. The owner currently pays about $3,265 per year in taxes and two similar restaurants in Streator pay between $17,000 and $20,000 in property taxes.

Plyman is recommending the City Council approve a development agreement to reimburse the developer $30,000 for TIF-eligible expenses. The City Council will meet at 1:30 p.m. Thursday at City Hall, 204 S. Bloomington St.

Streator does not have an Arby’s. There are Arby’s locations in Ottawa, Peru and Pontiac.