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Board approves creation of Tax Incremental District No. 7 to fund intersection and infrastructure improvements
Summary
The Village Board approved resolution 2026-22 to establish boundaries and a project plan for TID No. 7; administrator said developer-funded studies and a guaranteed tax agreement aimed to secure $15 million in development to pay for roughly $1 million in DOT-required intersection improvements.
The Village Board on March 18 approved Resolution 2026-22 to establish Tax Incremental District (TID) No. 7 and its project plan, a measure the administrator said is intended to fund transportation and site improvements needed for a proposed commercial development.
Administrator Dykstra told the board developers had paid for a traffic study at the intersection of State Highway 83 and NN that identified several required improvements; the Department of Transportation itemized about $1 million in improvements tied to the parcel and a timeline for when work would be required. To support those improvements, the village entered an MOU with the DOT for management and earlier approved a guaranteed-tax agreement intended to ensure $15 million in development to underpin the district.
Dykstra said the joint review board previously approved TID No. 7 and that a Planning Commission public hearing occurred Feb. 10; the village board vote on March 18 advanced the project plan and boundary establishment, with a final joint review board action expected March 30.
Trustee Darlene Johnson moved adoption of the resolution and the board approved it by voice vote. The village will proceed with the steps described in the project plan and await the joint review board's final action.
