The Village of Glenview and the Fields Auto have prepared a settlement agreement for the opening of a new multi-brand car dealership in the Patriot Marketplace Shopping Center at Willow Rd. and Patriot Blvd. according to a village press release.
Under the agreement, Fields would open a 40,000 square foot Chrysler/Jeep/Dodge/Ram dealership, with a sales and maintenance facility by Dec. 31, 2014, according to the release.
If approved by the Glenview Village Board of Trustees at its Tuesday, Dec. 4, meeting, the new agreement would end almost nine years of litigation stemming from a 2004 economic incentive agreement between the village and Fields, according to the release.
In exchange for Fields’ commitment to open the dealership, the village will reimburse Fields $2.2 million for costs that Fields has spent on site improvements, including work to make the soils on the site conducive for construction and obtain the wetlands permit, and refund more than $100,000 in building permit fees paid to date, the release states.
The village would also create a $2.1 million escrow account, from which new construction expenses would be drawn, according to the release. The village expects property tax generated by the new dealership to repay that amount in less than 10 years.
The settlement also pauses a 2009 lawsuit that stemmed from a disagreement between Fields and the village over the timing of an incentive payment in a previous agreement attempt, the release states, although the lawsuit is expected to be withdrawn by Jan. 31, 2013.
Fields Auto Group operates numerous dealerships throughout the United States and Canada, including BMW and Volvo dealerships in Northfield, the Land Rover Centre in Winnetka and an Infiniti dealership in Glencoe.