bourbonnais-village-meeting-minutes-2023-10-02_5ce.pdf
First reading for TIF agreement with PSI Construction LLC
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Description
The Village of Bourbonnais held a first reading for an ordinance authorizing a development agreement with PSI Construction LLC for four industrial buildings on 53 acres, tied to a 16-year TIF incentive split. The contract will allocate tax increment revenues between the developer, the Village, and other taxing bodies.
Contract Details
Vendor
PSI CONSTRUCTION LLC
Agency
Bourbonnais village (pt.), IL
Contract Type
CONSTRUCTION
Document Date
October 2, 2023
Contract Term
16 years, or upon the termination of the TIF district, whichever occurs first
Renewal Info
16-year term or until TIF district terminates, whichever is sooner. The agreement includes allocation of increment payments; no information on extensions or amendments.
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