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Council debates drilling exploratory wells and whether TIF funds can cover $450,000 exploration
Summary
Council members discussed an outside offer to conduct exploratory wells on a nearby property, possible leasing of water, an option to purchase, and whether TIF funds could be used to pay for exploration; legal counsel cautioned TIF eligibility would depend on whether water would serve the TIF area.
Commercial Point Village council members spent substantial time debating a proposal to test a nearby well field and the financing of exploratory drilling.
Council discussed an outside developers plan to drill test wells (presenters referenced five test wells on the record) and whether the village could lease water if wells produced. Officials indicated the developer has an option to purchase the…
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