Whole Foods in talks with Schererville
By Michelle L. Quinn Post-Tribune correspondent August 12, 2013 8:24PM
Updated: September 14, 2013 6:15AM
SCHERERVILLE — Whole Foods is coming to Schererville, if the town and grocery chain work out the financial details.
A joint meeting will be held Wednesday night among the Town Council, Economic Development Commission and Redevelopment Commission to amend the agreement the town has with Shops on Main, sources close to the situation confirmed. The crux of the amendment has to do with the store’s financing.
The Austin, Texas-based grocery chain, known for its organic food and hefty prices, gave the town and developer Regency Centers a list of requirements a few months ago that sought to increase the size of the development’s already-planned grocery store to 36,000 square feet from 22,000 square feet, sources said.
The cost of that increase would be $3 million.
The amendment seeks to have Regency take on $1 million of that $3 million, and for the town to finance the other $2 million through the Kennedy Avenue tax increment financing district, sources said.
The additional $2 million would bring the total TIF money being used for the Shops on Main project to $21 million, up from $19 million.
Whole Foods’ Midwest regional spokesperson, Keith Stewart, said because there is no signed lease agreement between the company and Shops on Main, he can’t confirm that Whole Foods will be coming. He did say that any new lease agreements are announced during Whole Foods’ quarterly meetings, the next of which will be in October.
“We’re interested in Schererville, and we’re in discussions with them, but as of right now, I’m not sure where in the process the town is,” Stewart said.
A Whole Foods store would be located on U.S. 41 in the retail center’s southwest corner, to the north of the Omni Health Club.
The Town Council and Redevelopment and Economic Development commissions will meet at 6 p.m. Wednesday at Town Hall.