CRYSTAL LAKE – A McHenry man is asking the Crystal Lake City Council for a $10,000 grant to open a store selling high-quality cutlery on Route 14.
Richard Roberts wants to open the Knife Experience Store in a 1,500-square-foot space in the Country Corners shopping center, 230 W. Virginia Ave., Suite 450. The store would sell fine cutlery and a variety of high-quality knives, according to city documents.
The Crystal Lake City Council could consider the grant application at its meeting Tuesday.
Roberts runs SRI Investments Corp. in McHenry. He’s seeking a grant through the city’s Retailer and Manufacturer Job Creation and Investment program for up to $10,000 to pay for furniture, fixtures and equipment, such as display cases. Roberts told city staff that he plans to hire several sales employees. He expects first-year sales to top $500,000, city documents show.
The grant program reimburses business owners for eligible expenses if they generate at least $150,000 in taxable sales in their first year. The program includes provisions for the city to recoup the money if the business closes before the required four-year period, according to city documents.
In August, the City Council made a number of changes to the program, which was established in 2011.
One of the additions was the requirement that businesses bring in at least $150,000 in taxable sales in the first year, according to meeting records.
The Knife Experience would be located between Baird & Warner and Weight Watchers in the Country Corners shopping center. The center is anchored by T.J. Maxx, Savers, Petco and Dollar Tree. Other tenants include Pablo’s Mexican Restaurant and Krystal Thai.
The Crystal Lake City Council is set to consider the grant application at its next meeting at 7:30 p.m. Tuesday at City Hall, 100 W. Woodstock St., Crystal Lake.
If you go
WHAT: Crystal Lake City Council meeting
WHEN: 7:30 p.m. Tuesday
WHERE: City Hall, 100 W. Woodstock St.