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Committee recommends amendment to redevelopment agreement to add Benny's and allow up to $100,000 TIF reimbursement
Summary
The Administration Finance Committee voted to recommend a first amendment to a 2022 redevelopment agreement that adds FTP Nest Cafe LLC (Benny's) as a party and authorizes reimbursement of up to $100,000 from available tax increment; the full board will consider the resolution Aug. 18.
The Administration Finance Committee on Aug. 4 voted to recommend approval of Resolution 50 R 25, a first amendment to a 2022 redevelopment agreement that adds FTP Nest Cafe LLC (doing business as Benny's at Nest) as a party and allows reimbursement of up to $100,000 from available tax increment financing. The committee forwarded the resolution to the village board with a positive recommendation for the Aug. 18 meeting.
Why it matters: The amendment would enable the business to construct an enclosed patio with overhead doors to help manage amplified…
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