Oswego Village Board members Tuesday will vote on an economic development incentive for a new full-service restaurant looking to open in downtown Oswego.
The village’s economic incentive award program provides financial assistance to eligible new or expanding businesses in the downtown tax increment financing district.
The applicant is looking to open Taco Dale Cantina at 123 Washington St., village officials said.
“Taco Dale Cantina is a new higher-end concept being proposed in Oswego by the same owner of Taco Dale which has existing restaurant locations in Aurora, Batavia, Bolingbrook, Lisle and Romeoville,” Oswego Economic Development Director Kevin Leighty said in a report to trustees.
The applicant, TD Cantina Corporation, has requested $21,981 in grant funding to help offset “the high building material and construction costs that exist in the current market,” Leighty said.
The requested incentive amount is based on a total project budget of $63,562, he said.
The applicant has proposed to build a new walk-in cooler and make significant repairs to the existing fixtures plus make other cosmetic renovations to the interior of the space, officials said.
The Village Board has an economic development incentive policy to evaluate requests by prospective businesses proposing to expand or open in Oswego. The policy specifies that the improvements in part will help contribute to and enhance downtown real estate and expand the local tax base as well as the employment base.
The application meets all the specific criteria of the grant program and funding is being used for the restoration of the downtown property and the financial request does not exceed 50% of the project costs, village officials said.
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Linda Girardi is a freelance reporter for The Beacon-News.