Board approves TIF No. 10 master development agreement allocating 87% tax increment to developer
The Village approved a Master Development Agreement with T. Wall Enterprises for redevelopment of the former UnitedHealthcare site; the agreement gives T. Wall 87% of newly created tax increment, with the Village retaining ~13% (projected $61.5M increment).
The full story
The Village Board approved the Tax Incremental District (TIF) No. 10 Master Development Agreement with T. Wall Enterprises on Aug. 24, authorizing the framework for redevelopment of the former UnitedHealthcare property into a mixed-use Grid-Iron District. Administrator Paul Evert said the ultimate development could include roughly 1,100 residential units and commercial development and that the agreement is intended to allow T. Wall to show potential investors the Village's participation.
Sign up to keep reading.
Your free newsletter brings you what your city council, county, and school board discussed and decided.
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