Geneva OKs Financial Incentives For Dunkin' Donuts

GENEVA, IL – The Geneva City Council voted 6-4 in favor of giving Dunkin' Donuts financial incentives, including a $70,000 grant and a $102,000 sales-tax rebate, to open in a former gas station/convenience store on East State Street, the Daily Herald reports. State Street Coffee LLC – The Hari Group is planning to purchase the site at 206 E. State St. and will remodel the building.

The Daily Herald reports:

The $70,000 will be used for buying the site. The city plans to pay for that with property taxes collected in tax increment financing District 3. But since District 3 is only two years old and doesn't have any money in the fund yet, the city may take money out of the District 2 fund and repay it later.The sales tax incentive is intended to help with an estimated $1 million worth of remodeling.The city will rebate half of its portion of the sales tax generated in the first 10 years, up to $102,000.

The Monday city council meeting drew opponents to the deal with Dunkin', including Sonita Chheng, the owner of Fresh Donuts on East State, who brought with a petition signed by 1,200 people who opposed the incentives.

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