winfield_village_board_of_trustees_meeting_minutes.pdf
Winfield Approves $4.7M TIF Incentive for Reserve
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Description
The Village of Winfield Board approved an Economic Incentive and Tax Increment Allocation Financing Agreement with Reserve at Winfield LLC for the Winfield Reserve apartment development. The agreement provides up to $4.7 million in pay-as-you-go TIF-based tax incentives, fee waivers, and land contribution to help close the project's funding gap.
Contract Details
Contract Amount
Not to exceed $4,700,000 (including approximately $1.5 million in fee waivers and a $930,000 land contribution, plus a share of tax increment)
Vendor
RESERVE AT WINFIELD LLC
Agency
Winfield village, IL
Contract Type
FINANCIAL_SERVICES
Document Date
September 19, 2024
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