The Huntley Village Board authorized negotiations for a business development agreement that would allow for the construction of a Holiday Inn Express to be located in Regency Square.
Henry Patel, who owns several properties in the village, including a new, multi-tenant center at Reed’s Corner, notified staff that he secured a three-year license granting franchise rights for a new Holiday Inn Express in the village.
The proposed hotel would be located on a 5.7-acre site on Regency Square along Kreutzer Road and would have 95 to 100 rooms.
By entering into a business development agreement with the village, Patel is seeking financial aid incentives such as a property tax abatement and rebate of hotel taxes for the $11.5 million project.
During Thursday’s Village Board meeting, one member of the public expressed some concerns about the project and suggested a study be conducted to figure out how to mitigate potential traffic issues as a result of the hotel.
One concern raised by trustees was the current appearance of the proposed hotel based on site elevations. Trustee Harry Leopold said he welcomes the possibility of a hotel, but requested to spruce up the appearance of the building.
The board voted, 5-0, to begin negotiations for the business development agreement. Trustee Niko Kanakaris abstained from the vote.
Patel is hoping to start construction this summer with an opening in summer 2021, according to village documents. However, a hotel in Regency Square’s current zoning would require village board approval of a special use permit, a site plan review and a plat of subdivision.
According to the resolution authorizing negotiations, the village’s 2016-20 strategic plan identifies the promotion of new business development, retention and expansion as a priority and securing a commitment for the construction of a hotel as an objective.
Other local Holiday Inn locations in McHenry County include 2595 Bunker Hill Drive in Algonquin and 800 S. Route 31 in Crystal Lake.