Village of Glenwood AgendaPacket Regular Board of Trustees Meeting 2026-06-16
Village Approves $425K Redevelopment Pact for Roller Rink
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Description
The Village of Glenwood approved a redevelopment agreement with Glenwood Nation Roller Skating Rink, LLC for a new roof system at 656 W. Holbrook Road, with a maximum assistance amount of $425,000 and a 10-year repayment term. The agreement is secured by a mortgage on the property and includes installment repayment provisions.
Contract Details
Contract Amount
Not to exceed $425,000.00 (Maximum Assistance)
Vendor
GLENWOOD NATION ROLLER SKATING RINK LLC
Agency
Glenwood village, IL
Contract Type
OTHER
Document Date
June 16, 2026
Contract Term
10 years repayment term
Renewal Date
2036-06-16
Renewal Info
Repayment is amortized over 10 years; no auto-renewal outlined. Agreement terms subject to property increment, with provisions for acceleration upon default.
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