Board approves changes to Inspire Prairie Springs development agreements to unlock financing
Trustees approved amendments that decouple Phase 1 municipal revenue obligation from Phase 2 to help secure financing for Phase 1, while adding protections for Phase 2 including termination dates, an option for the village to buy property for $1 in limited circumstances, and assessed-value guarantees.
The full story
The board voted to amend the development agreements for Inspire Prairie Springs Phase 1 and Phase 2 to facilitate private financing and protect the village’s interests.
Sign up to keep reading.
Your free newsletter brings you what your city council, county, and school board discussed and decided.
or
Free account
Keep reading for free
Create a free account to finish this story and see the video, transcript and key details.
Continue with GoogleContinue with emailAlready have an account? Log in