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Board approves $1.067 million pre-construction agreement for 116th Avenue extension tied to Inspire Prairie Springs
Summary
Trustees approved a pre-construction agreement with Bond Construction Management LLC for pre-construction design and permitting work for a 116th Avenue extension related to the Inspired Prairie Springs apartment project; staff said the work is a TIF‑eligible activity and estimated at $1,067,000.
The board approved a pre-construction agreement with Bond Construction Management LLC to fund design and pre-construction services for a proposed extension of 116th Avenue connected to the Inspired Prairie Springs apartment development. Staff said the pre-construction scope includes permitting, civil engineering, surveying, soil borings, wetland‑fill credits and tree clearing and characterized the expense as an eligible Tax Increment Financing (TIF) activity. The estimated cost for the pre-construction work is $1,067,000.
Staff emphasized that the developer must still enter into a development agreement with the village before actual construction of the extension begins. Trustee (speaker 20) moved to approve the pre-construction agreement; the motion was seconded and carried by voice vote.
