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Midlothian TIFF application for 147th Street revised to $72,300; placed on consent agenda
Summary
Trustees reviewed a revised TIFF application from JD Business Solutions for 147th Street with a $72,300 cost estimate (approximately $68,300 for site work and $4,000 for exterior improvements); the clerk was asked to put the item on next week's consent agenda.
Under economic development, trustees reviewed a revised TIFF (tax increment financing) application from JD Business Solutions for a property on 147th Street. The applicant’s revised project estimate is $72,300, with roughly $68,300 allocated for site improvements and $4,000 for exterior building work.
The village’s TIFF program would make the applicant eligible for a 50% incentive on eligible expenses; the trustee calculated that 50% of the eligible amount would be $34,150 under the current estimate. Trustee Crowley asked if there were any questions, and the clerk was asked to place the TIFF application on the consent agenda for the next meeting.
No final approval or vote on the TIFF occurred at this meeting; the item was set for the consent agenda and will be considered at the next scheduled board meeting where full documentation and any staff recommendations will be available.
