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Presenters ask Luxemburg board for pre-agreement on Commerce Drive development
Summary
Developers asked the village to include Commerce Drive in the TIF district and sought a pre-agreement tying up to 50% of an estimated $550,000 building cost to village support; the board voted to draft a letter of understanding to precede a formal developer agreement.
Presenters Dustin Hujet and Rob Paul told the Luxemburg Village Board that a proposed Commerce Drive Business Complex would include a roughly $550,000 building and could generate an estimated $120,000 in TIF revenue by year 20. They asked the village for a pre-agreement (memorandum of understanding) to allow the site to be added to the TIF district and requested up to 50% assistance toward construction costs, contingent on submission of an approvable project plan. The applicants said they hope to start construction at the end of February.
Board members moved to draft a letter of understanding, with Ron Tlachac and Pete Kline making the motion to proceed to a formal developer agreement if the project details are later justified. The item was recorded in the meeting as a motion to draft the understanding and to follow with the formal agreement if warranted. The transcript indicates the board approved moving forward to that drafting step without recording opposing votes; the clerk’s notation at the end of the minutes states that all motions were approved unless noted.
