Earlier this year, the community development commission recommended giving the Atlanta-based home improvement giant up to $5.4 million in tax increment financing for its $31.9-million project, which is expected to generate $112 million in sales tax revenue by 2024. The financial assistance was recommended to help offset additional costs in building the store, which would be located along Clinton Street, and would include a 414-space rooftop garage. In addition to meeting standards set by the Leadership in Energy and Environmental Design, Home Depot's plans include reducing storm water from the site by 10%.

Department of planning and development project manager Lori Bush reports the Home Depot would be 25% the size that of a building that could be allowed under current zoning, while the building on the northern end of the nearly six-acre site would be 33% less than the maximum allowed.

In addition to city council approval, Home Depot also must close on its purchase of the property, which now includes the River West Shopping Center owned by Buffalo Grove-based Zale Cos. that would be razed. "The proposed development will energize the neighborhood," Bush says. The neighborhood already includes a Dominick's grocery store and Walgreens pharmacy among other retailers.