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Loan to Be Considered for Developer Looking to Bring Retailer to Town
There aren't too many details yet, but that hasn't already caused some blogs and websites to start the rumor mills flowing about just what could be the next retailer to come to Galesburg.

A better idea of that may or may not come Monday night, as the Galesburg City Council is scheduled to vote on a $225,000 revolving loan to a company called "Galesburg Centre LLC -- the firm that owns the property the former Eagle Foods Store on North Henderson Street sits on.

The firm, according to the city, is owned by two Chicago-area men, and they want to use the revolving loan as part of a proposed $700,000 worth of work they want to do to the building.

They say that would help the developer fulfill its end of a potential lease agreement with what the city says is a "national retailer", but won't say who it is.

The City does say the retailer would occupy 30,000 square feet of the building, and have five full-time, and 20-part time jobs.

The rest of the former Eagle store is expected to be occupied by the new World Buffet restaurant, which is expected to be open by the end of the year.

The Galesburg City Council will hold a public hearing and question and answer session Monday night on the 2011 budget as well. The budget work session starts at 5, with the public hearing at 6.
11 15 10 by Newsroom
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