Oswego Economic Development Commission Meeting - April 2, 2025

The Oswego Economic Development Commission met at 6:00 PM on April 2, 2025, at Oswego Village Hall with a quorum present. Commissioners approved the February 5, 2025 minutes, heard an update on the Economic Development Incentive Award program, discussed financial incentive requests and available commercial lots, reviewed Business of the Month nominations and business retention visits, and received the Economic Development Director's report. No public comments were offered.

Consent Calendar

• The February 5, 2025 meeting minutes were approved by roll call; one commissioner abstained due to absence.

EDIA Program Update and Financial Incentive Requests

• The Economic Development Incentive Award program had run out of funds because of strong interest. The Village Board added $100,000 for this year, including $20,000 to fulfill an amended 2021 incentive agreement with Freddy's Off the Chain, which opened on April 1, 2025. About $80,000 remains.
• The director said applicants should not let the funding balance deter them, because the village may find additional funds for a strong opportunity.
• Freddy's qualified for a $40,000 incentive in 2021 but only received $20,000 at that time; an additional $20,000 is expected to be approved at the next Village Board meeting, bringing the total to $40,000.
• A separate sales tax-sharing incentive request for the Duncan project near Plainfield Road and Route 71 is scheduled for the next board agenda because of substantial site issues; details were to be released with agenda materials.

Available Commercial Development Lots Presentation

• The director recapped the available commercial lots presentation requested by the Village Board and presented at the February 18 Committee of the Whole. Because the meeting room monitor was broken, the presentation was delivered verbally.
• He explained that real estate location decisions are made by business owners, developers, and site selectors, while the village influences location through zoning, market information, incentives, and support. Oswego's average growth of about 600 new residential units per year for the past several years has been a major driver of commercial interest.
• Route 34: The approximately 90-acre site north of Kendall Point is not actively marketed; the owner wants to sell only the entire property, has not named a price, and a ComEd easement cuts through the site. Two other large sites between Delta Sonic and Andes Frozen Custard need creative mixed-use development and a willing developer.
• Orchard Road: New investment is occurring, but population density and traffic counts are not yet high enough for many site selectors. Outlots are filling before infill sites, and large infill parcels lack the utility and site preparation needed for pad-ready deals.
• Downtown: Daytime foot traffic, on-site parking, and nightlife remain challenges, although the village added 60 parking spaces along Van Buren. Lighting and streetscape improvements are in the capital plan but not budgeted; commissioners discussed restoring white tree lights, safety concerns at the Washington Street crossing, music issues, and possible interim improvements. Available sites include the old chamber/fire station next to La Marimba, less than a quarter acre, and a village-owned pad-ready site behind the church/Fox River Academy suited to office or mixed use.
• A Route 31 hotel/banquet site is ready environmentally but needs the right user; limited-service hotel construction costs were described as roughly $80,000 per key. Industrial space has low vacancy but limited new construction because Oswego is 8 to 10 miles from the nearest interstate.

Business of the Month Award Nominations

• Business of the Month is scheduled through July: Pam's Boutique in April, Old Second Bank in May, Prairie Pells in June, and Imagination Print Design in July; SAGE's Meat Market was moved to August. Fox Valley Winery substituted for SAGE's last month because SAGE's was too busy to receive the award.

Business Retention & Expansion Visits

• The director reported eight business retention visits completed recently, covering retail, restaurant, manufacturing, and hotel businesses. The visits were well received and connected businesses with schools, the park district, and the chamber.
• Future visits are planned with Kohl's and Dollar Tree after announced closures, with follow-up already underway for other businesses. Commissioners emphasized that in-person visits create valuable two-way advocacy and positive relationships.

Ongoing EDC Initiatives and Reports

• The commission will restart the business retention and expansion survey and continue planning a real estate broker open house; the Whitetail Ridge Golf Dome owner offered a possible venue.
• Director updates: Freddy's Off the Chain opened April 1 and has been busy; Nori Sushi is expected to open in the summer; Gas and Wash is under construction and expected before the end of the year; Skechers is under construction in the former Petco space and expected to finish in February; the Benderson project, a grocery-anchored development with 10,000 square feet of retail near Delta Sonic, was approved by the Village Board, though no grocery tenant has been named.
• The Tap House closed despite earlier retention visits; the building owner has received multiple letters of intent and is close to selecting another restaurant user.
• The chamber is starting a monthly business-to-business round table with 15 people already registered and a quarterly nonprofit networking session. Ryan and Brady received certificates marking their commission service and were encouraged to reapply; Rochelle Conig was also recognized on her final meeting.

Key Outcomes

• Minutes approved; one abstention.
• Village Board added $100,000 to the Economic Development Incentive Award program.
• Freddy's Off the Chain is expected to receive a total of $40,000 in incentives.
• Duncan sales tax-sharing request will go to the next Village Board meeting.
• Business of the Month schedule was set through August.
• Eight business retention visits completed, with more planned.
• No public comments; the meeting adjourned by motion.