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Council approves $15,000 redevelopment contribution for 305 N. Market Street
Summary
The council approved an ordinance authorizing a Redevelopment Agreement for 305 North Market Street; owners Matt and Alex Glazik requested $15,000 of city assistance toward $23,600 in expected repairs, to be paid after invoices are submitted.
The Paxton City Council on Feb. 10 approved an ordinance authorizing a Redevelopment Agreement for 305 North Market Street that will provide a $15,000 city contribution toward an estimated $23,600 in repair costs. Matt Glazik told the council he has tenants interested in renting the space and that the work will cover siding, fascia, soffit, seven windows, two doors and some interior repairs; the city portion would be paid after invoices are submitted.
Alderman Reinhart moved to approve the ordinance and Alderman Greenburg seconded; the motion carried on a roll call vote with all present aldermen voting yes. The council recorded that the $15,000 equals about 64% of the estimated $23,600 project cost as presented by the property owners; specifics about any agreements, deadlines for completion, or clawback provisions were not provided in the meeting record.
