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Developer, trustees clash over need for outside financial review of Ardmore/Vermont project
Summary
Developer representatives told the board they have financing and urged quick zoning approval for the Ardmore/Vermont project; staff and counsel said they need a financial analysis (SB Friedman) before negotiating a new redevelopment agreement (RDA) that could commit TIF reimbursements.
Developer representatives for the Ardmore (403 North Ardmore) project told the Village Board they have financing and urged trustees to approve zoning so work can move forward, while staff and legal counsel said the village must decide whether it wants to enter a new redevelopment agreement that could provide TIF reimbursements and should be supported by an independent financial analysis.
Attorney Nick Standiford and developer representatives said the developer has…
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