05/14/2019
Exciting new development being proposed for beautiful downtown DeKalb.
WLBK Local News
The DeKalb City Council supports drawing up an agreement to provide developer John Pappas with $3 million in TIF funds for his latest downtown project; although, two aldermen indicate they want to see proof his first downtown project is full.
At Monday night's council meeting, First Ward Alderwoman Caroline Morris (right in photo) and Fifth Ward Alderman Scott McAdams said they've heard doubts in the community about whether Pappas' Cornerstone project is full.
City Manager Bill Nicklas points to Cornerstone's full occupancy as proof that Pappas' proposal for two commercial and apartment buildings on the Mooney property would be a success. Pappas is seeking $3 million in TIF funds for the nearly $14 million project.
In response to the occupancy doubts, Pappas (left in photo) suggested it would be unwise for him to do a third project if the first wasn't successful, but he said he would only release some information since it's a private project.
Mayor Jerry Smith urged trusting the city manager, saying they didn't hire Bill Nicklas to blow smoke.
Nicklas also says he can show any alderman the rent roles to prove Cornerstone is full.
Despite the concerns from Morris and McAdams, the consensus of the council was to create a $3 million TIF agreement with Pappas that will be voted on at a future meeting.
