ST. CHARLES – Aldermen this week gave city staff the OK to proceed with an incentive agreement for a motorcycle dealership eyeing space near the Fox River Harley-Davidson building on Randall Road.
Economic Development Director Chris Aiston presented the information to the Planning and Development Committee on Monday.
Windy City Triumph would occupy about 5,000 square feet in the southerly portion of the Harley-Davidson building at 131 S. Randall Road in St. Charles.
The estimated cost for Windy City Triumph to build out and occupy the space is $70,000, Aiston said.
Under the incentive agreement, Aiston said, the city would reimburse the dealership one half of the municipal sales taxes generated from the store for up to five years or until the total reimbursement reaches $70,000, whichever comes first.
Windy City Triumph is projected to do about $18.5 million in sales in the first five years, Aiston said.
Sales would include new and used motorcycles, parts and accessories and general merchandise and motorcycle services.
The dealership would have to repay St. Charles for all disbursed reimbursement monies if it doesn’t do business in the city for at least 10 years.
Aiston noted the underused building was once the focus of a recreational vehicle dealership, which was unable to negotiate a lease.
The city is suggesting other potential locations to US Adventure RV, he said.
The Iowa-based RV company asked for a tax break in January.
The Planning and Development Committee also recommended approval of that deal, which called for the city reimbursing a portion of sales tax revenues not to exceed $250,000 or for a period of six years, whichever came first. The store was estimated to generate about $45 million in total sales within five years.