Town of Fulton Minutes Council Meeting Minutes 2026-05-11
Council Reviews Collateral Assignment for Dolan TIF Deal
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Description
The Fulton City Council discussed a collateral assignment of an existing TIF redevelopment agreement with Dolan for a cannabis dispensary project on Routes 136 and 84, allowing City reimbursement payments to be directed to Dolan’s bank. The agreement mirrors a prior arrangement for Dolan’s grow facility and has been reviewed by the City’s TIF attorney, but no final action was recorded.
Contract Details
Vendor
DOLAN
Agency
Town of Fulton, IL
Contract Type
FINANCIAL_SERVICES
Document Date
May 11, 2026
Contract Term
Through December 31, 2028 (end of current TIF district)
Renewal Date
2028-12-31
Renewal Info
Existing redevelopment agreement runs with current TIF district, which ends December 31, 2028; any TIF extension would require renegotiation of reimbursement terms with Dolan.
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