The Homewood Village Board approved a number of economic development incentives at the June 24 meeting. 

The village supported a Class 8 property tax renewal for the property located at 3355 183rd Street, owned by Zenah Taher. Angela Mesaros, Homewood director of economic and community development, said the board originally approved the designation in 2015. 

Taher originally used the space as a day care facility, but it has been vacant recently. With the Class 8 incentive, the owner will save about $9,380 annually on taxes. This will help the owner acquire a new business for the property, Mesaros said. 

The village also approved the request by Larry Kane from Jonathan Kane Salon and Spa to receive financial assistance from the Business Incentive Program. Mesaros says the program was created by the village to assist improvement and maintenance needs for commercial buildings. 

According to Mesaros, the salon has been listed as one of the top 200 salons in the U.S. for the 13th time in Salon Today magazine. Kane is asking for assistance with the cost of a new air conditioning unit, which will cost approximately $6,494. The incentive program will cover 50% of the cost, resulting in the amount of $3,247, she said. 

A redevelopment agreement with Beverly Spearman, owner of the building located at 17911 Harwood Ave, was also approved by the village on Tuesday. Mesaros says that Spearman is in the process of remodeling the interior and exterior of the building, which includes the replacement of the deck and windows, and installation of railings. 

Spearman requested financial assistance for the improvements under the Americans with Disabilities Act, which will cover 50% of costs. The village will cover $21,990 out of the total $43,980, Mesaros said. 

A second amendment to the redevelopment agreement between Wind Creek and the Villages of Homewood and East Hazel Crest was passed by the Homewood board on Tuesday. 

According to Napoleon Haney, Homewood village manager, Wind Creek has constructed a casino and hotel, plus a parking garage within the Northeast Tax Increment Financing (TIF) Redevelopment Project Area in Homewood and the Halsted Street Redevelopment Project Area in East Hazel Crest. He says the revised agreement has increased the TIF eligible expenses from $55 million to $70 million due to unexpected additional construction costs, which went 14% above the original budget.