Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Redevelopment topic
No spam. Unsubscribe anytime.
Rosemont approves redevelopment plan proposal for Balmoral/River Road (TIF 9), schedules review
Summary
Trustees approved Ordinance No. 2024-8-12B proposing the Balmoral/River Road Redevelopment Project Area (TIF 9), including establishing tax increment allocation financing and calling a Joint Review Board and public hearing.
At the Aug. 12 meeting the Village Board moved forward Ordinance No. 2024-8-12B to propose a Redevelopment Plan and Project for the Balmoral/River Road Redevelopment Project Area (TIF 9). Trustee Dorgan moved the ordinance and Trustee Price seconded; the motion carried with unanimous support from the trustees.
The ordinance approves the proposal to establish the TIF 9 project area and authorizes the use of tax increment allocation financing. As with other TIF actions, the ordinance convenes a Joint Review Board and sets a public hearing date to allow impacted taxing districts and members of the public to review the plan.
