Business & Tech
Batavia Looks to Lure New Restaurant to Town Through $100,000 Grant, Loan
The restaurant could move into a strip mall on North Island Avenue if the city OKs a loan and grant to fix up the strip mall.
BATAVIA, IL -- The city of Batavia is hoping a Briana's Restaurant will come to town and is open to lending money to the owner of a strip mall to make that happen, the Daily Herald reports. The Alex Group has requested a $25,000 grant and $75,000 loan to complete remodeling work at 10 to 30 N. Island Avenue. Work eligible for the loan and grant will include the addition of a fire-suppression system since the restaurant will seat more than 200.
Batavia aldermen on Tuesday all voted in favor of the agreement with the full council set to take a binding vote at its June 5 meeting, according to the Daily Herald.
The money the city plans to lend to The Alex Group will come out of tax-increment financing fund for District 1, which comes from property taxes in that district and is meant for completion of projects that would increase the property value of properties in the district, according to the article.
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Briana's Restaurant has locations in South Elgin, Palatine and Elburn. The restaurant serves breakfast and lunch.
Find out what's happening in Bataviafor free with the latest updates from Patch.
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