A financial incentive package for a new Homewood restaurant was approved by the village board at its Jan. 28 meeting.
EmpanadUS owner Erich Schamber purchased a property at 1941 Ridge Road, according to village documents. He plans to make renovations to the building that will include installation of a grease trap, facade restoration and other necessary upgrades to open a food production facility and retail storefront.
The improvements will cost an estimated $192,000.
Homewood staff put together a package under the village’s facade and property improvements, retail enhancements and go green reward programs, which allow for reimbursement of up to 50 percent of eligible costs.
EmpanadUS will get a rebate of up to $25,000 on the village’s places for eating tax and a reimbursement of $30,800 for the grease trap installation. A reimbursement of up to 18.5 percent or $30,000 of the remaining renovation costs, excluding the grease trap, is also part of the package.
Homewood also approved the restaurant for a Class 8 county tax incentive last September, which lowers the cost of business property taxes for up to 12 years in an effort to compete with collar counties and Indiana.
EmpanadUS is expected to generate about $10,500 in revenue annually for Homewood, according to the village. The property has been vacant for two years, generating no revenue.
In other business, Brian Hankey took the oath of office to work as engineering project coordinator in public works. He replaces Don Anderson who retired.
The board also approved a $125,000 budget for sewer improvements on the 18800 block of Ashland Avenue.
A special use permit was approved for Body By Ivory to move from 18667 Dixie Highway to 18659 Dixie Highway, within the same building.