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Antioch hires independent TIF consultant after developer requests assistance for Marketplace project
Summary
Trustees approved hiring SP Freeman Development Advisor LLC to produce an independent tax increment financing (TIF) analysis after a developer requested village assistance for Route 173 improvements. The board emphasized caution and recommended negotiable fee-shifting protections be included in any redevelopment agreement.
The Antioch board voted to accept a proposal from SP Freeman Development Advisor LLC for a multi-phase tax increment financing (TIF) consulting engagement to evaluate a developer’s request for village assistance on Route 173 improvements and related incentive support. The consultant engagement—described in the meeting as a roughly $40,000, multi-step review—will produce an independent revenue forecast, assess the developer’s projections…
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