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Council approves annexation agreement for Eastpoint Commons tied to $2.9M DCEO grant
Summary
Council approved an annexation agreement for Eastpoint Commons; a $2.9 million DCEO grant will fund most public improvements but staff said an estimated $1.6 million gap will be split between the city and the developer and the annexation requires at least 50 acres of industrial development.
The city attorney presented an annexation agreement for Eastpoint Commons and told the committee that the project has been negotiated over several months. The State of Illinois Department of Commerce and Economic Opportunity (DCEO) has provided a $2.9 million grant to fund the majority of required public improvements; the agreement anticipates approximately a $1.6 million gap in funding, which the agreement structures as an equal split between the city and the property owner/developer (DMD Investments/Don Bush). The attorney said the agreement includes conditions tying development to at least 50 acres of industrial use so the project can meet grant requirements.
Council moved to accept the agreement and to proceed with annexation. The city attorney said the annexation ordinance will require publication and a public hearing and that a second reading will be scheduled in line with statutory notice requirements; the ordinance will require a supermajority (8 ayes) when it returns for formal consideration. The attorney noted the grant requires the public improvements to be installed by Dec. 31 and urged prompt action to show good‑faith progress on the work. The council voted to approve the agreement and to proceed with annexation as presented.
