Hoffman Estates approves Bell Works TIF changes and Westside site plan after debate over extended developer split
Trustees approved amendments to the Bell Works redevelopment agreement to allow at least one apartment building inside the Lakewood Center TIF and to extend five years of a 95% developer/5% village tax-increment split; the Westside site plan for exterior and pedestrian improvements was also approved.
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Trustee vote: The Village of Hoffman Estates approved an amended redevelopment agreement that allows residential development inside the Lakewood Center tax-increment financing (TIF) district and extends for five additional years a 95% developer / 5% village increment split before returning to a 50/50 split.
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