STREATOR – Renovations to a building in the 400 block of East Main Street in Streator plans to be approved next week. In a committee of a whole meeting Tuesday, a proposed Tax Increment Finance Redevelopment Agreement was discussed for 409 E. Main Street. Local contractor Jeff Zavada agreed to partner with the city to undertake the project. The Redevelopment Agreement includes a $15,000 facade grant to assist in exterior renovations and $60,000 of direct reimbursement following the completion of eligible work.
The money would allow for a clean out of the building, repair roofing in the back end, tuck-pointing and repairing the front facade. After the city stabilizes the building, Zavada plans to take over the project and renovate the interior space. According to Zavada he plans on selling the building and says he’s taking on the project to help the city. The city made a motion to have the project placed on the agenda for next weeks council meeting to be approved.
