Council OKs $50,000 redevelopment agreement for venue at 163 S. Schuyler Ave.

The Kankakee City Council on July 21 approved an ordinance authorizing a redevelopment agreement with HB Equities LLC for improvements at 163 South Schuyler Avenue.

City staff described the agreement as a $50,000 city investment toward a first phase of improvements to the privately owned venue: $25,000 up front and $25,000 on project completion. Staff said the venue's first phase totals roughly $274,200 in private capital, with the city contribution intended to leverage that work and support future phases.

Director Watson presented the redevelopment agreement and said the city and developer had discussed the project for more than a year. Council members repeatedly praised the private investment and urged it as an example to attract further investment downtown.

Council moved to suspend the rules to permit final passage the same night; motions were made and seconded and the ordinance passed after roll call. Several council members expressed public support during the vote.

The redevelopment agreement places the city contribution on a phased schedule (partial payment at contract start, remainder at completion). Council recorded abstentions by members who cited potential conflicts of interest on the roll calls prior to passage; the ordinance was approved at the meeting.