By Howard Packowitz and Neil Doyle
NORMAL – The Normal Town Council will be asked Tuesday night to approve a $150,000 tax rebate package to help business owners wanting to open a brewpub in Uptown Normal.
The council’s vote on the proposed tax break comes on the same evening members will hear a presentation on tax increment financing that has been used to build various Uptown projects.
Ryan and Steven Fiala own D.P. Dough in Normal and Champaign, and recently bought the former Bill’s Key and Lock at 127 E. Beaufort St.
Fiala Brewhouse & Pub would produce craft brews and run a full-service kitchen, according to town staffers, who say the Fiala brothers are investing $1.6 million into the project.
The town government would rebate up to $150,000 in sales and food and beverage tax money generated over a 10 year period, even though it’s anticipated the business will earn the rebate in 3-5 years.
The town would be paying back to the Fialas less than 10 percent of the project’s cost.
Also on the agenda is a report from the town’s St. Louis-based consultant on tax increment financing. PGAV Planners are expected to describe the overall financial impact of Uptown developments and explain the benefit of TIF as an economic development tool.
The report comes as two new council members, Stan Nord and Karyn Smith, have been critical of the way the town government spent taxpayer dollars to develop Uptown. Mayoral candidate Marc Tiritilli has specifically criticized the use of TIF incentives.
Howard Packowitz can be reached at [email protected]
Neil Doyle can be reached at [email protected]
