City of Belvidere Committee of the Whole Agenda Packet 2026-05-26
TIF Redevelopment Grant to DFA Dairy Brands
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Description
Belvidere plans to enter a Redevelopment Agreement with DFA Dairy Brands Ice Cream, LLC, providing up to $107,790.97 in TIF-funded reimbursement for wastewater pre‑treatment and related improvements. The company must complete the work by December 1, 2026, and maintain operations at the site for at least five years.
Contract Details
Contract Amount
Up to $107,790.97
Vendor
DFA DAIRY BRANDS ICE CREAM LLC
Agency
City of Belvidere city, IL
Contract Type
FINANCIAL_SERVICES
Document Date
May 26, 2026
Contract Term
Owner must complete Improvements by December 1, 2026, and maintain operations at the property for at least 5 years after the agreement date
Renewal Date
2031-12-01
Renewal Info
Agreement allows the Mayor to execute a future amendment to provide additional TIF funds, limited to additional TIF revenues from the Kishwaukee River Redevelopment Area. No automatic renewal term; performance and five‑year operations covenant govern duration.
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