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Board approves second TIF draw for Beacon Hill business park after project update
Summary
After a presentation on a 250-acre Beacon Hill business park and a review by counsel, the board approved draw number 2 related to the project's Series A tax-increment financing; the written request and on-the-record amounts given in the meeting were inconsistent.
The board approved draw number 2 for the Tax Allocation Area 0.65 tax-increment financing (TIF) tied to the Beacon Hill business park after a presentation by Jeff Van, a project manager for the Beacon Hill development. The action was taken by voice vote after counsel reviewed the submitted invoices and described them as allowable expenses.
Jeff Van told the board the Beacon Hill site is a roughly 250-acre master plan on the southeast side of town adjacent to I-65, about half a mile south of Broadview. Van said the master plan envisions more than 2,000,000 square…
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