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Village approves TID 4 boundary amendment; board approves marketing contract and moves to closed session on development talks
Summary
The Village Board approved a boundary amendment for Tax Increment District 4 and authorized up to $50,000 for a CDA marketing contract; members then entered closed session to discuss a letter of intent and bargaining posture related to potential TID 4 developments.
The Village Board on Tuesday approved a resolution amending the project plan and boundaries for Tax Increment District 4 to add parcels targeted for redevelopment and to include project costs for a stormwater retention basin and a booster pump station to serve the area. The board also authorized the Community Development Authority to contract with A5 Branding & Digital for marketing services, with a motion approving Option B for up to $50,000. After those votes the board moved into closed session to discuss a letter of intent from an existing village business and bargaining positions for potential TID 4-related contracts and offers to purchase…
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