Jewel Store Set to Begin Construction!

 Jewel Food Stores, under the SuperValu corporate banner, will begin construction by this August of the new Jewel Osco store and shopping complex at the corner of Peace, Plank, and Rt 23 (North Main St) in Sycamore.

 Jewel officials met with Mayor Mundy, City Manager Nicklas, and other City officials this past Friday to solidify the details and confirm the building process which will place the largest store Jewel builds in Sycamore on the north side.

 The contractors will be in the ground by August with a store opening by June, 2008.  All of the road, access, and ramp agreements had been worked out with both Illinois Dept of Transportation and with DeKalb County last year when the Jewel Store was planned.  Traffic control devices, deceleration, and turn lanes have been planned and are ready to be implemented.

 Site work will begin soon with water, sewer, road, and parking infrastructure to be completed by fall.  The building itself will be constructed and be ready for June, 2008 opening.

 Sycamore shoppers are happy and eagerly anticipate having the Jewel to add to their shopping options.  The City is happy that the extensive groundwork to reach agreement with Jewel and SuperValu, IDOT, and the County will have come to fruition.  The Jewel Complex will significantly increase the commercial/retail sales and property tax base for Sycamore and DeKalb County taxpayers and will continue to lighten the residential property tax burden.

 As was previously agreed upon, once the Jewel is open and generating sales tax, a sales tax rebate will begin that will reimburse the company for public infrastructure that will be installed including lane widening, turn lanes, traffic signals, sewer extensions, etc.  The monthly rebates will not exceed 50% of the sales taxes generated.