Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Board approves $23,600 to build developer entrance road while TIF eligibility is checked
Summary
To enable site access for a proposed TIF-area development, trustees approved a $23,600 expenditure to construct a 200-foot entrance road pending confirmation of TIF eligibility; members agreed the expense could be reimbursed or credited if the project qualifies for TIF funds.
Trustees voted to authorize roughly $23,600 to build an entrance road to a development parcel to provide immediate access while staff confirms whether the work can be paid from TIF funds. The board discussed the trade-off between waiting for TIF approval and constructing a base road now so the developer and site work can progress; staff advised the board it would revisit funding if the work proves TIF-eligible.
A village representative described the recommended technique (core out and recycled asphalt base) and the estimated cost. "We're looking at the project cost that you got with $23,600 to get the road 200 foot back in there like we asked before," a staff member said. Trustees approved moving forward with the entrance road funding and asked staff to confirm TIF eligibility with Moran before additional TIF-dependent work begins.
