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Bridges Catering may get $600,000 from Rock Island to redevelop Stern Center

ROCK ISLAND, Illinois — The building that holds Stern Center in Rock Island is in the process of changing hands to Bridges Catering. Bridges Catering is m...

ROCK ISLAND, Illinois -- The building that holds Stern Center in Rock Island is in the process of changing hands to Bridges Catering.

Bridges Catering is making the move to buy and renovate the Stern Center from Eagles Nest of the QC, LLC, according to a memo from the City of Rock Island.  Including renovations, the project would be a $1.3 million investment.

To make it happen, Bridges Catering asked the City of Rock Island to help with $600,000 from the Downtown Tax Increment Finance revenue, according to the city.

Bridges would get the TIF money in two phases: The first half of the money would come after the purchase of the Stern Center was finalized, and the second half would be once Bridges has "substantial completion of the renovations," according to the memo.

Related: Bridges Catering company originally wanted to buy the Hauberg  mansion and fix it up.  The City of Rock Island council members eventually decided it was not for sale.

City leaders were expected to meet Monday, April 4, 2016 to talk about the plan.  The City Council members will "motion whether or not to consider, suspend the rules and pass the ordinance," according to the meeting agenda.

The redevelopment agreement states that if the project fails, the $600,000 will be paid back to Rock Island.

Click here to read the Redevelopment Agreement

 

 

 

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