BATAVIA – Aldermen have to decide how to proceed with the redevelopment of the city-owned Thomle building in downtown Batavia after Batavia business owner Michael Grudecki recently pulled his proposal to turn the building into a martini lounge.
His proposal was one of two current proposals for the building at 2 E. Wilson St. in downtown Batavia. Since 1997, the city has owned the building, which was built in 1876.
In pulling his proposal, Grudecki, president of Vignette Home Decor in Batavia, said he was tired of the city dragging out the process. Grudecki said he first approached city officials in February 2012 with the idea for his proposed Tini Lounge.
A proposal now before aldermen involves redeveloping the building for a restaurant and apartments. St. Charles-based Corcoran Commercial Real Estate in December presented aldermen with its proposal to acquire the Thomle building and combine it with the 4-6 E. Wilson St. building to develop restaurant space on the first floor and five apartments on the upper levels.
The project is estimated to cost $1.8 million.
The company is seeking $590,000 in city grant funds to help pay for the project, and a transfer of the Thomle building for $1.
Corcoran has projected the project will generate $344,500 for the city’s tax increment financing district through 2027 and that the city should receive a total of $315,000 in retail sales tax revenues through 2027.
City staff has recommended that it be authorized to negotiate with the Corcoran Group and see if a reasonable agreement can be worked out.