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Villa Park board approves up to $15 million in bonds to finance St. Charles Road redevelopment
Summary
The Village of Villa Park approved an ordinance authorizing up to $15 million in general-obligation bonds (series 2025B) to reimburse redevelopment costs in the St. Charles Road TIF area for a Marquette Real Estate Investments LLC project; the village plans a bond sale the week of Dec. 1 and expects a roughly 4% interest rate over 20 years.
The Village of Villa Park on Nov. 19 approved an ordinance authorizing issuance of up to $15,000,000 in general-obligation bonds, series 2025B, to reimburse certain redevelopment project costs in the St. Charles Road commercial-corridor TIF district and to support a proposed project at 100–110 S. Phil Ave. The vote was recorded as a roll call 'yes' by Trustees Cardola, Cozart, Kumar and Sabri.
Manager Rivas and staff said the bonds are tied to a redevelopment agreement with Marquette…
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