The Village Committee of the Whole will review the proposals, which range from an art center to a dental practice, at its Wednesday meeting.
FRANKFORT, IL — The Village of Frankfort is looking to sell one of its properties in the downtown area, and business developers have submitted a wide range of ideas for the property. The proposals will be discussed and open to public comment during Wednesday's Village of Frankfort Committee of the Whole meeting.
Frankfort Mayor Keith Ogle said he felt strongly that the public should be involved in the process for the submitted proposals for the property at 2 Smith Street as part of his vision of having increased transparency in local government.
"People should know, especially when taxpayer dollars are being used, how things are being spent," Ogle said. "We want to engage the public in the process. And we're very excited about this."
The 2 Smith Street property, which formerly housed Fra-Milco Cabinets, was purchased by the Village in 2014, Ogle said.
A request for proposals for the property was sent out Feb. 16 and bids were due March 21, according to Village documents.
Any proposal would have to meet certain "values" put forth by the Village, Ogle said, including: the proposed design for the property; how well the proposal fits with the Village's 2040 Comprehensive Plan; what the business developers are asking for in terms of financial incentives, such as fee waivers; and how well the proposal fits with the overall development of downtown Frankfort.
"We are very pleased at what we received," Ogle said, adding that the feedback he has received from residents have shown that people are excited about some of the proposals.
"We're looking forward to a positive, energetic addition to our downtown," Ogle said.
The Village has made each of the proposals available for public viewing on the Village's website. Readers can view the full proposals by following this link.
The following is a brief description for each of the four proposals, according to Village documents. Full details for each proposal can be found by following the links.
Fulton Home and Garden, LLC: A combination of food and beverage vendors, artisanal vendors, bookstore, and open indoor and outdoor spaces for gatherings and/or dining. Offering $100,000 for the property and seeking undetermined financial incentives.
Integrus Development: Mixed use, three-tenant building including a sushi restaurant, general retailer or secondary food use, and a children's dentistry office. Offering $45,000 for approximately 37 percent of the property, with the Village to retain the remainder of the property. Seeking approximately $222,250 in financial incentives.
Morgan Premiere Properties, LLC: Either a single- or multi-tenant space that could include such businesses as a toy store, juice bar, fitness center, bakery, high-end golf simulator and/or training center. Offering $140,000 for the property and seeking undetermined financial incentives.
Jill Plesha and Jason Verbeek: An outdoor sculpture garden, local artisan gallery, studio space for artists and the Frankfort Arts Association, boutique retail, and bakery. Offering $75,000 for approximately 12,500 square feet, or $146,490 for approximately 24,414 square feet. Seeking an undetermined amount for financial incentives.
The Committee of the Whole, with public input, will discuss the pros and cons of the proposals. Each of the developers have been invited to attend and make presentations for their proposals at Wednesday's meeting, Ogle said.
Depending on how those conversations go, the Committee of the Whole may choose to recommend some or none of the proposals to the full Village of Frankfort Board of Trustees, or may choose to have additional discussions at a following Committee of the Whole meeting, Ogle said.
Any proposal in front of the full Village Board of Trustees would be for the sale of the property. The sale would require a supermajority vote, meaning a total of six affirmative votes would be needed. Ogle would be eligible to cast a vote for a proposal in addition to the six sitting trustees.
Wednesday's Committee of the Whole meeting is scheduled for 5:30 p.m. in the Village Board Room at the Village Administration Building, 432 W. Nebraska St. A copy of the agenda can be found by following this link.
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