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Elgin council consents to Rivers Marketplace municipal management district; development agreement still required
Summary
The Elgin City Council unanimously adopted a resolution consenting to creation of a municipal management district (Rivers Marketplace) covering about 60 acres along U.S. 290. Consent does not bind the city to finance or manage the district; a separate development agreement is pending.
The Elgin City Council on Feb. 18 voted unanimously to adopt a resolution consenting to the creation of the Rivers Marketplace Municipal Management District, a proposed roughly 60-acre retail and mixed‑use site adjacent to U.S. 290 that developers say would include retail pad sites and a potential 70‑key hotel.
The district consent is the first step developers requested to enable municipal‑management‑district financing mechanisms that can fund on‑site public infrastructure. Owen, a city staff member, told council the city’s…
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