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Board hires bond counsel as negotiations continue on marketplace TIF reimbursement and possible bond financing
Summary
Trustees approved Resolution 26‑25 to retain Croke Fairchild, Duarte & Barris LLC as bond and disclosure counsel as the village works through TIF reimbursement negotiations with a marketplace developer; Mayor said the project may require a short‑term bond of roughly $2.0–$2.25 million to cover upfront infrastructure costs pending state approvals.
Attorney Jim Durkin of Croke Fairchild, Duarte & Barris LLC presented his firm’s public‑finance experience and answered questions about acting as bond counsel. Mayor Gartner explained the village has been negotiating with a marketplace developer seeking TIF reimbursements and that the developer requested an upfront contribution (the mayor cited roughly $2.0–$2.25 million as the developer’s ask to advance infrastructure work). The mayor said staff had asked for a bond‑counsel engagement to begin the legal work needed if the village proceeds with bonded financing to advance the project.
Durkin described his firm’s experience with municipal and public‑finance matters, including general obligation bonds and refundings in the region, and said the firm could support disclosure and bond counsel duties for a potential 2026 issuance. Trustees asked clarifying questions; the board then approved Resolution No. 26‑25 authorizing Croke Fairchild, Duarte & Barris LLC to act as bond counsel and disclosure counsel in connection with potential 2026 bonds for the Village of Antioch (roll call: motion carried).
