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Maywood approves redevelopment addendum for National Cycle; one trustee dissents
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Summary
The board approved a first addendum to the National Cycle redevelopment agreement that removes a planned loading dock (and the village's obligation to pave the alley), sets tax‑incentive closing and project dates, and assigns landscaping/maintenance responsibilities; Trustee K. Wellington voted no.
On Oct. 2 the Village of Maywood Board of Trustees voted to approve a first addendum to the redevelopment agreement with National Cycle, Inc., despite a single 'no' vote from Trustee K. Wellington.
Village Attorney Michael Jurusik summarized changes in the addendum: National Cycle is no longer pursuing a loading dock at the rear of its addition (which removed a prior requirement that the company or the village pave the alley), the parties set a target closing date for the tax‑incentive by Oct. 13, 2018, and the agreement establishes a project commencement date of Sept. 18, 2021 and a completion date of Sept. 18, 2023. Jurusik said the addendum also includes landscaping and maintenance obligations to be performed by National Cycle.
Trustee A. Sanchez moved approval; Trustee H. Yarbrough seconded. The motion carried with Mayor Edwenna Perkins and Trustees H. Yarbrough, I. Brandon, A. Sanchez and M. Lightford voting yes; Trustee K. Wellington voted no and Trustee R. Rivers was absent. No additional amendments to the addendum were recorded in the meeting minutes.
The ordinance's approval directs staff to proceed with the closing and implementation steps described in the addendum; the minutes record the Oct. 13 deadline for the tax incentive closing and the multi‑year project schedule.