Winfield village Awards Financial Services Contract to Reserve at Winfield Llc (September 2024)

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.

Scope & details

The full contract record, as filed.

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)

Contract type

FINANCIAL_SERVICES

Document type

Minutes

Source document

winfield_village_board_of_trustees_meeting_minutes.pdf

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Winfield village?

Reserve at Winfield Llc was awarded this financial services contract by Winfield village, as recorded on September 19, 2024. The contract value is 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).

How much is the Reserve at Winfield Llc contract with Winfield village worth?

The Reserve at Winfield Llc contract with Winfield village is valued at 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), covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in winfield_village_board_of_trustees_meeting_minutes.pdf (Minutes), dated September 19, 2024 from Winfield village. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Reserve at Winfield Llc hold?

Reserve at Winfield 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.

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What is Winfield village currently buying?

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