The Staunton City Council waived the first reading and approved an ordinance on Monday night that sets the gears in motion for a truck stop and convenience store to be constructed by Meyer Oil Company. The project is planned for West Frontage Road near I-55 in Staunton. Construction should be substantially completed by Dec. 31, 2025.

The ordinance sets up a Redevelopment Agreement with Meyer Oil Company wherein the developer agrees to build the truck stop and convenience store and the city of Staunton agrees to assist with the improvements for the project. Meyer Oil has informed the city that without the TIF Act funding, the project will not move forward.

The city of Staunton will consider reimbursing eligible costs under the Redevelopment Agreement up to $2,640,000. The estimated TIF eligible costs include:

Purchase of land - $905,000

Site improvements - $250,000

Architectural and engineering fees - $100,000

Legal and other professional fees - $185,000

Financing costs (30% of interest expense) - $1,200,000

Total TIF eligible costs - $2,640,000.

Under the TIF Act, for 20 years, the city will rebate increases to the existing sales tax of 7.25 percent that are levied by the city on a yearly basis to the developer, if applicable. An extension beyond the 20 years is possible. Meyer Oil will no longer receive any reimbursement after Feb. 28, 2052.

The ordinance requires the city to improve and maintain West Frontage Road from Staunton Road to the southernmost access point of the project area. The road has to be capable of handling 18-wheel trucks to safely navigate the area 24 hours a day and 365 days a year. The city will be responsible for the road modifications after Meyer Oil closes on the property and completes construction.

The city will also make any improvements necessary to run a sewer line adequate to handle the developer's needs to the property line of the project area at the city's expense.

The city will provide the developer with both an offsite package license, including liquor, wine and beer, and an on-site pour license for the gaming customers. The ordinance states that the city will do everything reasonable to assist the developer in obtaining a video gaming license from the Illinois Gaming Board.