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Board approves incentive for JBC Development to extend Nell Road; TIF rebate capped at $1.5 million or 50% of eligible costs
Summary
The village approved an economic incentive agreement with JBC Development to extend Nell Road through wetlands and floodplain for roughly $3.6 million in public improvements, with a TIF rebate up to $1.5 million or 50% of eligible costs and payments tied to incremental tax receipts.
The Village Board approved an economic incentive agreement with JBC Development Inc. to extend Nell Road about 2,050 feet through the Montgomery Business Center to Commerce Drive. Attorney presenting the agreement said the road extension and related public improvements are estimated at approximately $3,600,000; extraordinary costs associated with wetlands and flood-plain work were cited as the primary development inhibitor.
Under the ordinance, the village will rebate up to $1,500,000 or 50% of eligible costs (whichever is less). Rebate payments will come from 90% of the increment generated by specified lots (Lots 3 and 5 in Unit 3 and an identified Lot 1) and will not begin until the village accepts the public improvements.
Supporters argued the extension provides a secondary access route serving public-works and fire needs; staff said the fire district supports the extension because it improves secondary access to the west end of town. Trustee comments during debate focused on whether TIF funds should be used for the road extension; one trustee said the road extension was a poor use of TIF funds while others emphasized access and infrastructure benefits.
The board approved the ordinance on a 4–1 vote. Trustee Youngerman cast the lone vote against the agreement. The developer’s attorney and village staff indicated the waiver of first reading would facilitate plat recording and allow the developer to proceed with permitting for the first lot in Unit 3.
