Lake in the Hills

Q: What signs of economic turnaround do you see in your community?A: In the first quarter of 2010, the village's sales tax increased by 10 percent. The sales tax had been stagnant or declining throughout 2009.Q: Please identify one project that is an example of that turnaround.A: There has not been one large project; however, we have seen some smaller commercial developments come through the village-approval process recently, including an 8,100-square-foot HobbyTown retail store at Pyott Road and Imhoff Drive, and Parkside Auto (auto repair, truck rental and storage) locating in the same area.Q: What type of new development will be most prevalent? Retail, residential, industrial, office or something else?A: For residential we will probably see housing units that will be smaller in size and could include senior housing. New commercial will include some smaller retail/service uses in the near future and larger big box retail in the next few years, particularly along Route 47.Q: How optimistic are you that vacant storefronts and office buildings will be filled during this turnaround? A: We have seen many of our existing multi-tenant commercial buildings have new tenants move in when one moves out. Little Caesar's Pizza and Jersey Mike's Subs are two examples that filled vacant tenant spaces along Randall Road. We are also finding that commercial building owners are tending to offer good deals (e.g. free months leases) to entice businesses to locate in their centers.Q: What is your village doing to best position its membership for the economic rebound? A: The village's Business Relation Committee has had several workshops assisting local business to help increase performance and address the tough issues faced in this economy. We are also marketing our available commercial sites to potential developers and businesses and the village board recently passed and economic incentive policy to assist qualifying businesses to locate in the village.Q: What is your town's biggest economic development wish? )A: To bring in a large quality retail commercial development to our main future growth area, which is along Route 47.