Committee tables amendment to 1300 Roosevelt development agreement, staff outlines DuPage County IGA and costs

The West Chicago Finance Committee on March 2 voted to table an amendment to the development agreement with 1300 Roosevelt Investors LLC and an associated intergovernmental agreement with DuPage County, but staff used the meeting to preview the proposal and seek committee direction before a March 16 City Council hearing.

Alderman Swiatek moved to table the item and Alderman Beebe seconded; the chair called for ayes and the motion passed by voice vote.

City staffer Kelly summarized the project background: the agreement (signed in May 2023) would allow one or two industrial buildings in the Roosevelt–Fabian TIF district and anticipated total project costs of about $60,000,000. The existing agreement provides for reimbursement of TIF-eligible expenses of nearly $7,000,000 based on incremental property tax revenues. Kelly said DuPage County’s need to widen Fabian Parkway has introduced permitting conditions that tie county road improvements to the project and require an intergovernmental agreement.

Kelly said the county’s additional work is expected to cost about $550,000 and that staff proposes routing the county invoice to the developer; the city would keep a copy of receipts to confirm payment. The proposed payment schedule in the IGA and amendment would be 50 percent on contract award, 30 percent on substantial completion and 20 percent at project closeout. Kelly said staff will also update an exhibit that details TIF-eligible expenses so the allocation of the nearly $7,000,000 in TIF reimbursement reflects current costs; she said this is a redistribution of categories rather than an increase in total TIF dollars.

Kelly gave a timeline for the development: she said notes tied to TIF reimbursements are anticipated in April or May 2027 and that the developer anticipates construction completion in January 2027; the transcript records those dates as stated by staff but does not resolve an apparent sequencing question about issuance timing relative to completion. Kelly also reiterated the TIF reimbursement breakdown described in the existing agreement: 100 percent of right-of-way improvements (utilities, detention) and 65 percent of costs for regional power upgrades and extraordinary site costs.

Committee members raised no substantial objections and gave staff direction to proceed; staff said it will move updated paperwork to City Council once legal language is complete.

The committee did not adopt the amendment at the March 2 meeting; the item was tabled for further consideration and will be on the March 16 City Council agenda for action.