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Carpentersville trustees approve $1 million milestone payment to Horizon Development for Iron Flats project despite wage concerns
Summary
The Village of Carpentersville approved a $1 million disbursement from its TIF fund to Horizon Development Group to enable closing on the Iron Flats redevelopment. One trustee opposed the payment, citing concerns the developer’s wages do not meet community standards and potential violations of the Illinois Prevailing Wage Act.
Carpentersville trustees voted to authorize a $1 million milestone payment from the village’s tax-increment finance (TIF) fund to Horizon Development Group Inc. on June 9, 2026, enabling the developer’s closing on the Iron Flats property.
A village staff member told the board the payment is the first of four milestone disbursements set out in a redevelopment agreement the board approved on Nov. 4, 2025. "The action before the board this evening is the disbursement of the initial milestone payment pursuant to the redevelopment agreement," the staff member said, describing the $1 million advance from the TIF fund and saying Horizon expects to mobilize by July and to complete the project in the second half of 2027.
The staff member said the next milestone in the agreement is tied to pre-cast foundation work and that a third milestone likely will not be met until 2027. The staff member also said Horizon had not finalized all contractor awards, but had provided tentative contractor names and had been asked to provide a final subcontractor list to the board when available.
One trustee explained a planned "no" vote before the board moved to a roll-call vote. That trustee said the developer had "chosen not to pay wages that meet our community standards," which the trustee said may violate the Illinois Prevailing Wage Act, and raised concerns about advancing taxpayer funds before work had begun and the financing structure underlying the project. "This is public money being given to a developer who is unwilling to support our community through proper wages," the trustee said.
Trustee Garcia moved to approve the payment; Trustee Maniscelo seconded. The board recorded a roll-call vote: Trustees Frost, Garcia, Gupta, Maniscelo, Abbott and President Skilman voted yes; Trustee Malone voted no. The motion carried, and the payment was authorized.
The meeting concluded with no further business and a motion to adjourn.
What’s next: Staff said they will provide the board with a final list of awarded contractors when Horizon is able to provide it. The redevelopment agreement remains the controlling document for future milestone payments and conditions.
