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Deerfield approves option to buy 700 Deerfield Road as part of downtown TIF redevelopment plan; one trustee opposed
Summary
Trustees approved an ordinance authorizing an option/purchase agreement for 700 Deerfield Road in the Village Center TIF district to advance the redevelopment plan; the vote was 5–1 with Trustee Jacoby voting no.
The Village of Deerfield Board of Trustees on Sept. 15 approved an ordinance authorizing execution of an option and purchase agreement for the property at 700 Deerfield Road, located in the downtown Village Center tax‑increment financing (TIF) district.
Village staff said purchasing the parcel would help the village advance objectives in the TIF district’s redevelopment plan and that the terms are consistent with a previously approved letter of intent. The village attorney and deputy village manager were available to discuss details of the redevelopment plan and the contract at trustees’ request.
The board approved the ordinance after motion and second. Roll call recorded the ordinance passing with Trustee Jacoby voting no and other trustees voting yes. Staff reminded the public that the contract packet and related documents were available as public records and were released to the public on Friday.
Trustees did not discuss detailed purchase terms at length during the meeting; staff noted the contract is complicated and that members of the public may review the packet for full details. The vote authorizes staff to execute the option/purchase agreement consistent with the previously reported terms.
