City Council unanimously approved a $1.4 million tax rebate for Main Street Promenade East.
Council approved an incentive on the four story building back in 2012, but based on current market conditions, the developer is reducing the project to two floors, consisting of both retail and office space in downtown Naperville.
“I just want to thank the developer for realizing where the market is, coming in with a marketable project, even at a lesser scale, keeping in tune what Naperville is and what they do as a developer,” Said Councilman Grant Wehrli.
As per their agreement, the facility must be open and operating by December of 2015.
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