Economic Development Commission Meeting - June 3, 2026

The Oswego Economic Development Commission met on June 3, 2026 at 6:00 PM at Village Hall. The commission approved minutes from April, reviewed multiple financial incentive grants, recapped the ICSC Las Vegas trade show, began planning a small business development event, discussed business retention visits, and advanced business of the month nominations. The Economic Development Director provided extensive updates on commercial development projects including new businesses and construction.

Consent Calendar

• Approval of Minutes: The commission approved the minutes from the April 1, 2026 meeting. Roll call: Bill Henderson – Yes, Kevin Holmstrom – Yes, Dave Aaron – Yes, Gary Hansen – Abstain. (Andy Clemens and Laura Witt were absent.) Motion approved.

Discussion Items

Financial Incentive Requests

• Lama Rimba: Approved at a previous meeting; currently completing ~$120,000 in renovations (patio, permanent fixtures). Well underway.
• Terminator Fitness: First tenant at Harrison Street project. Completed a build-out close to $100,000; eligible for full $40,000 grant. Approved.
• Five South Madison (old Keith Car property): Two separate grant requests:
  • Building owner (John and Aaron Lederman) received $40,000 for grease trap, sprinklers, exterior work.
  • New tenants Billy Bricks (pizza) and Moo Ju's (ice cream) each received $40,000 for build-out (framing, coolers, equipment). Total project investment over $500,000–$600,000. Billy Bricks also received $80,000 in revolving loan funds. Expected to open before end of 2026.
• Staff noted the village board replenished the grant fund with an additional $200,000 after these awards due to high demand.

2026 ICSC Las Vegas Show Recap

• Kevin (Economic Development Director) attended the international trade show with the village administrator and village president. They had 25 meetings over 1.5 days with real estate brokers, developers, retailers, restaurant groups, and hotel groups. Key areas discussed: Route 34, Orchard Road, downtown, Plainfield Road, and Woolley. Gained interest outside downtown. A letter of intent (LOI) was received for the Dairy Hut site, possibly finalized within a month. The director noted that 400–600 new residential units per year attract retailers and developers.

EDC Small Business Development Event

• Staff proposed a fall event (October/November) to connect small businesses with resources: SCORE mentors, Illinois Small Business Development Center, Chamber of Commerce, SBA loan programs, banks, and existing business owners. Commission members volunteered to help plan. Kevin Holmstrom offered to involve lenders.

Business Retention & Expansion Visits

• No visits since the last meeting due to ramp-up season. Director plans to re-engage in late summer/early fall. Ken Holmstrom reported on a recent visit to Midwest Mel (a calf milk replacer manufacturer) – a niche industrial business that invested in automation (robot arm) without cutting staff; they may consider expansion. Commission agreed to add them to the retention list.

Business of the Month Award Nominations

• Recent voting selected Discovery Inspection Services and Demont Guitars as winners. Third place was Benny's Place, followed by Bartels AutoPlay and Impact Sports Rehab. Commission decided to slot Benny's Place for June without revote. For July, they will open new nominations (including Restoration One and West Mel) and then vote again.

Reports

Economic Development Director Report

• New businesses: Needle Brew (record store) coming to 500 sq ft next to Pam's Boutique/Code Force. Day 54 cocktail lounge expected to open in June. Billy Bricks and Moo Ju's officially coming to town.
• Downtown momentum: Showing building has a very interested party; could appear on a public agenda later this month or July. Dairy Hut LOI noted.
• Route 34: Dutch Bros and Home Goods have permits; construction starting soon. TJX Companies (Home Goods) very positive, discussing additional brands. Coldstone opening this summer.
• Orchard Road: Multi-tenant retail center under construction east side north of Lewis Street; several LOIs. Another center on west end south of Hill to start after leasing. A car wash approved on a former Wendy's parcel south of Starbucks/Valvoline.
• Other: Cozy House Furniture opened in old Party City. Old Primo's Tacos location on Route 34 has interest but challenges. Mattress store and America's Best Eyewear closed; only one mattress store remains. Trader Joe's on target for 2026 opening; developer Benderson adding 10,000 sq ft of retail (outlot) but no restaurant due to parking constraints.
• Harrison Square: Tenants committed: Markville, Buddies, and Terminator Fitness. Restaurants being discussed for remaining space.
• Stonehill/Candle Point: No new updates.

EDC Members Comments

• Discussion about parking issues at Jefferson Street intersection and a landscaper blocking parking lot near a business. Members shared observations about seasonal sales dips (cool weather, graduations) and noted challenges for Mona's restaurant (owner recovering from accident, inconsistent hours). Members asked to ensure Christmas Walk setup does not block access to new downtown businesses like Code Force.

Key Outcomes

• Minutes approved (roll call as above).
• Financial grants approved: Terminator Fitness ($40,000), Five South Madison owner ($40,000), Billy Bricks and Moo Ju's ($40,000 each). Billy Bricks also approved for $80,000 revolving loan.
• ICSC show follow-ups: Director to continue meetings with interested parties.
• Small business event: Planning to proceed for fall 2026; volunteers assigned.
• Business of the Month: Benny's Place selected for June. New nominations to be solicited for July.
• Retention visits: Midwest Mel added to list; director to schedule future visits.
• Adjourned: Motion made and carried.