
By Adam Studzinski
NORMAL – The Normal Town Council on Monday unanimously approved about $1.8 million in tax rebates for Portillo’s.
The rebates will come in the form of food and beverage and sales taxes in a 5-to-7 year period to help make the eight million dollar redevelopment at 202 Landmark Drive possible. City Manager Mark Peterson explained this is not the first time Normal has offered incentives for a business on Veterans Parkway.
“Most of the development that’s occurred in the past 15 to 20 years has had some public benefit in terms of some form of tax incentive,” he said.
Councilman R.C. McBride said he went back and forth on the issue.
“What this comes down to for me is would this deal happen without the incentive? And the answer from everything I understand is probably no,” said McBride. “And there are some other questions that need to be asked. Would it happen elsewhere if we don’t do it? Maybe.”
Councilman Scott Preston agreed with the rest of the council in saying he thinks this is a good deal.
“It’s something that in the long run will bring in revenue to the Town of Normal from people outside of this community,” said Preston. “I don’t think there’s any doubt, especially being the first, that we will have a regional appeal with that Portillo’s.”
Portillo’s estimates their annual sales will be more than $8 million a year. Their goal is to open by August 2017.
Adam Studzinski can be reached at [email protected].