More details of the renovation of the and the Village’s role in it were revealed by Monday at the Village Board meeting.
Some stores will move and according to Street and a source affiliated with the ownership. The interior mall will cease to exist. The Village will consider chipping in with a sales tax rebate that will not reduce current Deerfield income.
All plans are contingent on the approval of existing tenants accepting the proposed changes, according to the mall source. If that happens, could move from the mall interior to the northern end of the shopping center and will be near the south end with a new store.
“The north end of the center will be small shops and restaurants,” a source affiliated with the project said of the current Jewel location. Jewel must agree that “T.J. Maxx will be next to the existing Jewel site.” and will remain where they are.
Starbucks will move to a free standing location with a drive-through window, according to Street. “The T.J. Maxx space and the closed theaters will be torn down,” he said.
Should Jewel agree, the rebuilt store will be what the source affiliated with the project calls an approximate 55,600-square-foot prototype located immediately to the north of the former Wonder!
“Grocery stores are very particular about how their stores are configured today,” the source said. “It will be nice for the shoppers and nice for Jewel.” The existing store has been in its current location since Deerbrook opened more than 40 years ago.
Street hopes to receive a letter of intent from the mall developers to present to a Village Board meeting in June. The proposal will outline a plan where some of the increased sales tax revenue from the rejuvenated shopping center will be rebated for a period of time to ease the development burden.
“We’re very excited Deerbrook will be renewed,” Rosenthal said. “We anticipate receiving a letter of intent and cooperating with the developer.” The mayor emphasized the plan will cost the Village nothing and will ultimately increase sales tax revenue.
Deerbrook must demonstrate to the Village it has a need for the assistance through a detailed plan. “They will have to prove the necessity for it,” Rosenthal said. “Any decision on sales tax will have a limit and there will be a written agreement.”