The Homewood Village Board approved an economic development incentive agreement that provides financial assistance for the expansion of Copper Still Martini Lounge at the Dec. 9 meeting. 

The martini lounge located at 1961 Ridge Road, which has been in operation for over five years, plans to add a full-service restaurant and commercial kitchen, Director of Economic and Community Development Angela Mesaros said. 

The business, owned by Lovise Jiles, plans to invest approximately $75,000 in the project. The redevelopment agreement allows the village to reimburse up to 50% of construction expenses for the expansion, which is capped at $37,500, Mesaros said. 

The village will reimburse the costs through a rebate of the village’s 2% places for eating tax over the first three years of operation, according to Mesaros. The village will receive only its portion of the Illinois state sales tax, estimated at $8,742 annually. Based on projected sales, the rebate is estimated at $37,062, which is within the $37,500 cap.

After the rebate period ends or the reimbursement cap is reached, the village will begin collecting the full 2% places for eating tax, estimated at $12,354 annually, in addition to the sales tax, she said. 

The incentive package also includes 100% reimbursement for the installation of a grease trap, which is a requirement for commercial food service operations. The cost of the grease trap is estimated between $8,000 and $10,000, bringing the total potential incentive to between $45,500 and $47,500, Mesaros said. 

“This grease trap, $10,000, is a very little amount for a grease trap because they have to do this one inside,” Mesaros said. 

Some other businesses in Homewood that have received a 100% reimbursement for a grease trap are Empanadus and Bergstein’s Deli, she said. 

The expansion will allow the business to offer food service, which staff said is expected to attract more customers and enhance the vitality of downtown Homewood, Mesaros said. 

Projected annual food sales are estimated at approximately $256,500. Once fully operational, the business is expected to generate about $21,096 annually in combined sales tax and places for eating tax revenue for the village, she said.