Rockford advances TIF-backed spec industrial project with Hillwood
City of Rockford cityCity · Rockford, IL- Disclosed value
- City reimbursement not to exceed $2,500,000 plus 100% of incremental property tax through levy year 2030; $2,428,000 DCEO grant administered to developer
- From agendapacket
- Document date
- May 11, 2026
- Renews
- Free account
The 30-second brief
The City of Rockford is entering into a Development Agreement with Industrial VI Enterprises, LLC (Hillwood) to build at least a 250,000 square foot Class A spec industrial building and related public improvements in the Global TradePark #2 TIF district. The City will reimburse up to $2.5 million in eligible costs, administer a $2.428 million DCEO Site Readiness grant, and provide pay-as-you-go TIF reimbursements of 100% of incremental property taxes through levy year 2030.
Industrial Vi Enterprises LLC holds this construction contract with City of Rockford city. Its other public contracts on record include work for Development Authority Of Butts County and Town of Smyrna.
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Contract details
- Contract type
- Construction
- Amount
- City reimbursement not to exceed $2,500,000 plus 100% of incremental property tax through levy year 2030; $2,428,000 DCEO grant administered to developer
- Document date
- May 11, 2026
- Term
- Agreement dated April 2026; project shell to be substantially complete within 24 months of execution; tax increment reimbursements through final levy year 2030 or life of Global TradePark #2 TIF
- Renews
- On record
- Agency
- City of Rockford city
- Source document
- City of Rockford Planning and Development Committee Meeting Agenda May 2026 (AgendaPacket)
Industrial Vi Enterprises LLC's other public contracts
More City of Rockford city contracts
Questions about this contract
Who was awarded the construction contract by City of Rockford city?
Industrial Vi Enterprises LLC was awarded this construction contract by City of Rockford city, as recorded on May 11, 2026. The contract value is City reimbursement not to exceed $2,500,000 plus 100% of incremental property tax through levy year 2030; $2,428,000 DCEO grant administered to developer.
How much is the Industrial Vi Enterprises LLC contract with City of Rockford city worth?
The Industrial Vi Enterprises LLC contract with City of Rockford city is valued at City reimbursement not to exceed $2,500,000 plus 100% of incremental property tax through levy year 2030; $2,428,000 DCEO grant administered to developer, covering construction work.
What type of contract is this?
This is a Construction contract, documented as a agendapacket record, structured as a not-to-exceed (ceiling) agreement.
Where was this contract approved?
This contract appears in City of Rockford Planning and Development Committee Meeting Agenda May 2026 (AgendaPacket), dated May 11, 2026 from City of Rockford city. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Industrial Vi Enterprises LLC hold?
Industrial Vi Enterprises LLC 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 City of Rockford city currently buying?
Explore City of Rockford city's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.