Macomb, IL – The plan to bring a new business to Macomb is being given the code name Project "Mac."
The nature of the business is described as entertainment. It does not involve alcohol. But Mayor Mick Wisslead will not confirm the exact nature of the business.
Wisslead told reporters after Monday's Committee of the Whole meeting, "What we would like to do, if everybody concurs, there would be a news conference at the facility with drawings and probably snacks that would be appropriate to what's going in there."
That announcement could come early next month. Wisslead says the business could open by the end March.
The proposed location is the vacant storefront east of Sears. The address is 1405 East Jackson Street.
A document from the city shows the estimated cost of the project is $2,336,000. The company is seeking a city loan of $50,000. It would also like $250,000 from the MAEDCO Consortium. Other funding sources are listed as Equity: $300,000, and Bank: $1,786,000.
The purchase of the property would cost $1,561,500. The building renovations would cost an estimated $774,500.
The city says the applicants have about 10 years experience in the business. The proposed manager of the facility has 25 years experience in the field. The company owns and operates similar establishments in three other Illinois communities.
The city also says the use for the facility is seen by most as a natural fit for a community with a university population. The city document says the company feels Macomb is an excellent market to be tapped.
The business would create 6 to 8 fulltime jobs.