CONTRACTAPPROVED

Village Approves $1M Milestone Payment to Horizon for Iron Flats

Disclosed value: $1,000,000 (first milestone payment of $6,000,000 total); From agendapacket
Approved: Jun 9, 2026

What it covers

The Village Board authorized the first of four milestone payments of $1 million to Horizon Development Group, Inc. as part of a $6 million redevelopment agreement for the Iron Flats Project, with payment due upon property acquisition on June 11, 2026. This economic incentive is designed to encourage timely project completion and increase the Village's tax base.

Who holds it

Horizon Development Group Inc holds this contract with Carpentersville village (pt.). Its other public contracts on record include work for City of Mason.

What happens next

Term as filed: First milestone: upon acquisition (June 11, 2026); RDA term not specified.

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Contract details

Amount: $1,000,000 (first milestone payment of $6,000,000 total)
Document date: June 9, 2026
Term: First milestone: upon acquisition (June 11, 2026); RDA term not specified
Vendor: Horizon Development Group Inc
Agency: Carpentersville village (pt.)
Source document: Village of Carpentersville AgendaPacket Special Meeting 2026-06-09 (AgendaPacket)

Horizon Development Group Inc's other public contracts

City of Mason, IowaCity to Terminate Encore Senior Living Purchase Agreement · Jul 7, 2026Undisclosed City of Mason, IowaTermination of Encore Senior Living Purchase Agreement · Jul 7, 2026Undisclosed Carpentersville village (pt.), IllinoisMilestone Payment Approved for Horizon Development Group Inc Redevelopment · Jun 9, 2026 City of Mason, IllinoisHorizon Development Group Seeks Senior Living Project Variance · Mar 31, 2026Undisclosed Carpentersville village (pt.), IllinoisBoard Confirms Funding Terms For Horizon Redevelopment · Nov 18, 2025Undisclosed All Horizon Development Group Inc contractsVendor profile

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Questions about this contract

Who was awarded the government contract by Carpentersville village (pt.)?

Horizon Development Group Inc was awarded this government contract by Carpentersville village (pt.), as recorded on June 9, 2026. The contract value is $1,000,000 (first milestone payment of $6,000,000 total).

How much is the Horizon Development Group Inc contract with Carpentersville village (pt.) worth?

The Horizon Development Group Inc contract with Carpentersville village (pt.) is valued at $1,000,000 (first milestone payment of $6,000,000 total).

What type of contract is this?

This is a government contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in Village of Carpentersville AgendaPacket Special Meeting 2026-06-09 (AgendaPacket), dated June 9, 2026 from Carpentersville village (pt.). Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does Horizon Development Group Inc hold?

Horizon Development Group Inc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

What is Carpentersville village (pt.) currently buying?

Explore Carpentersville village (pt.)'s vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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