Village Board OKs Currie Motors' Expansion Project

The unanimously approved Monday major plans to renovate and expand on U.S. Route 30. That approval also comes with a seven-year incentive plan for the car dealership that would rebate a portion of sales taxes if the business reaches certain goals.

"We welcome this expansion and improvement to the facilities at Currie Motors and belive that it's something that is going to help our whole community," said Trustee Mike Stevens, who presented the agenda item to the board.

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Overall, the improvements are being done to accommodate increased future business and to align the dealership's look with Ford Motor Company's corporate branding, Stevens said.

The expansion project, which will cost no less than $2.5 million, will include the following:

• façade enhancements
• expansion of the service department
• improvements to the parking lot lighting
• creation of a new vehicle storage lot along 95th Avenue
• paving an existing gravel lot

To create the new storage lot, Currie Motors will purchase two parcels of land that have been rezoned as part of the board's approval. The project also will create a nicer streetscape along Rt. 30 once construction along that roadway is finished. Part of that renovation will be a masonry wall that will serve as the village's east entrance, as well as work as way to display vehicles, Stevens said.

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The board also approved an incentive program based on sales tax designed to assist the project's completion and help spur business.

"And that's the whole key about an incentive program, is that you set the goals to increase your [Currie Motors'] volume, and that's what this program has been developed to do," Stevens said.

Stevens described the terms of the seven-year incentive program as follows:

"As long as Currie's sales tax receipts to the village exceed $500,000 annually Currie is guaranteed a minimum of $1,050,000. Now, if they do not meet the minimum, they will receive less than the guarantee."

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He then went on to break down how the three rebate scenarios would work. Here's how plan shakes out:

Less Than $300,000

• Sales tax generated by Currie: Any amount less than $300,000
• Rebate for the year: None

Between $300,000 and $500,000

• Sales tax generated by Currie: $490,000
• Rebate for the year: $95,000. The sales tax generated is subtracted by $300,000, and Currie receives half of the resulting $190,000.

More Than $500,000

• Sales tax generated by Currie: $700,000
• Rebate for the year: $200,000. When the amount is more than $500,000 Currie receives half of the difference between sales taxes generated and $300,000 or $150,000, whichever is greater. In this scenario, the former is greater—$700,000 - $300,000 = $400,000—and Currie would receive that amount.

The incentive plan is capped at $1.25 million, and Currie Motors could hit that limit in less than seven years, although that's unlikely, said Village Administrator Jerry Ducay.

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"On behalf of all of the people of Frankfort, we're very pleased with your major investment in our community, and I know that people are going to be very happy when they see the end result—the new facade, a great-looking building. It's going to be very nice," said Mayor Jim Holland.

"[I]t is a significant investment that your dealership is making in our community," Holland added. "It shows that you have some faith in our community, that we're going to maintain our standards, that we're going to attract good customers to you, that this is a good address to have. I'm very pleased to see you react that way to our community. ... This is mutually beneficial."

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