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Weston board authorizes partial TIF payout for Schofield Avenue project amid questions on completion
Summary
Trustees approved a 75% TIF reimbursement ($337,500) for the Schofield Avenue project at 2302 Schofield Ave, citing substantial progress and occupancy of at least one tenant suite; board requested architect’s certificate of substantial completion and assessor verification before final payout.
The Village of Weston approved a partial release of tax-increment financing (TIF) reimbursement for the development at 2302 Schofield Avenue, voting to disburse 75% of the $450,000 agreed incentive ($337,500) after staff reported that more than 75% of the work is complete.
Staff said the project has a temporary or conditional certificate of occupancy for one major tenant (the firehouse space) but lacks the formal architect’s certificate of substantial completion for the entire shell. Trustees questioned whether the developer had met the development agreement’s definition of substantial completion and asked the village assessor to confirm whether the minimum assessed value requirement had been realized; staff responded the assessment may not yet be reflected in land records but that the assessor believes the completed structure could meet the $2,000,000 valuation when landscaping and minor items are finished.
Trustees debated the balance between strictly enforcing contract milestones and supporting completed development that appears near completion. "We're trying to promote development," one trustee said, arguing partial reimbursement helps finalize project completion; another urged adherence to the development agreement’s milestones before releasing full funds.
After discussion the board voted to approve the 75% partial reimbursement and hold the remaining 25% until the architect’s completion certificate and any outstanding assessor verifications are provided.
The board also instructed staff to verify the assessor’s valuation and secure the developer’s architect certification before releasing the final payment. No litigation or penalties were recorded; trustees emphasized that past amendments to the development agreement had not been the village’s fault and that partial payment could help close out remaining landscaping and tenant build-outs.
The board will revisit final payout after staff confirms the outstanding documentation and site completion in spring.
