Business & Tech
Update: Proposed Lake Bluff Target Approved for Tax Incentives
Despite concerns over increased traffic and aesthetics, plans for Lake Bluff's first big-box store recently received a favorable recommendation from the joint planning and zoning board.
Update, Tuesday, 7:40 p.m.
The Lake Bluff Village Board approved a sales tax rebate of 50 percent for the proposed Target store on Monday, reported the Chicago Tribune. Through a 10-year agreement, Target could collect up to $4.2 million in tax rebates. Should the store close in its first five years, those rebates would have to be repaid to the village.
Earlier
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The proposal for a Target store in Lake Bluff cleared another hurdle as the joint Plan Commission & Zoning Board of Appeals voted 4 to 1 at a May 7 public hearing to recommend village board approval, reported the Lake Forester.
The Architectural Board of Review is scheduled to consider the proposed site plan and building design on June 4, according to the village.
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Target Stores, Inc. and McVickers Development, LLC, propose to build a at the former Shepard Chevrolet property at 930 Carriage Park Ave., near Route 176 and Waukegan Road. The major redevelopment project also calls for a bank along with retail and restaurant tenants.
Traffic safety, signage and how a Target fits into the character of Lake Bluff remain concerns for village officials and residents alike, reported the Lake Forester.
Related:
New Elements Proposed for Lake Bluff Target
Target Talks to Continue in Lake Bluff
Target Store at the Center of Proposed Redevelopment in Lake Bluff
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