Town To Consider Tax Rebate For Hot Dog Restaurant
The Town of Normal Council is expected to address the Portillo's development at its Monday evening meeting. Council will consider an incentive package rebating $1.825 million dollars in sales tax revenue over approximately 7 years.
The Portillo's developer has stated there's a $1.825 million funding gap in the plan based on the estimated dollars the property and restaurant are expected to return. The Town has said they expect sales tax revenue to eventually exceed the rebate figure and also expect the Portillo's development would spur further development in the area, making the public investment request "reasonable."
The Oakbrook, IL based food chain will locate its restaurant on a lot currently occupied by a Motel 6. The restaurant, serving Chicago-style food, will build along Parkway Plaza Drive, between Landmark Drive and Veterans Parkway in Normal.