Rantoul Village Board of Trustees Agenda 2026-06-09
Maverick Pipe Group to Redevelop 909 Pacesetter Dr
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Description
Village of Rantoul approved a development agreement with Maverick Pipe Group, LLC for the $500,000 purchase and redevelopment of 909 Pacesetter Dr, including up to $250,000 in reimbursement and property tax abatements.
Contract Details
Contract Amount
$500,000 (purchase price); up to $250,000 reimbursement for improvements; additional incentives (tax abatement, enterprise zone benefits)
Vendor
MAVERICK PIPE GROUP LLC
Agency
Town of Rantoul, IL
Contract Type
OTHER
Document Date
June 9, 2026
Contract Term
Agreement effective as of May 12, 2026; duration per Article VII, ends upon completion of all payments in Article V
Renewal Info
Agreement in effect through completion of all payments under Article V; property tax reimbursements cover first five years after purchase; further extension possible by amendment.
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