Town approves TIF deal with Phoenix Investors
Town of Normal townCity · Normal, IL- Disclosed value
- Reimbursement of up to half of TIF-eligible expenses; Town may reimburse itself up to $2,000,000 for infrastructure upgrades
- From minutes
- Approved
- Nov 18, 2020
The 30-second brief
The Town of Normal approved a TIF redevelopment agreement with Phoenix Investors for the North Normal Warehouse site, reimbursing the developer for up to half of TIF-eligible expenses and reserving up to $2 million for town infrastructure costs. The project involves an estimated initial investment of $16–$18 million and could double the warehouse footprint within 36 months.
Phoenix Investors holds this contract with Town of Normal town. Its other public contracts on record include work for Village of Endicott and Grafton village.
Term as filed: Initial phase construction with tenant opening planned between February and March 2021; potential building footprint expansion within 36 months.
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Contract details
- Amount
- Reimbursement of up to half of TIF-eligible expenses; Town may reimburse itself up to $2,000,000 for infrastructure upgrades
- Document date
- November 18, 2020
- Term
- Initial phase construction with tenant opening planned between February and March 2021; potential building footprint expansion within 36 months
- Vendor
- Phoenix Investors
- Agency
- Town of Normal town
- Source document
- Town of Normal Joint Review Board Minutes November 2020 (Minutes)
Phoenix Investors's other public contracts
More Town of Normal town contracts
Questions about this contract
Who was awarded the government contract by Town of Normal town?
Phoenix Investors was awarded this government contract by Town of Normal town, as recorded on November 18, 2020. The contract value is Reimbursement of up to half of TIF-eligible expenses; Town may reimburse itself up to $2,000,000 for infrastructure upgrades.
How much is the Phoenix Investors contract with Town of Normal town worth?
The Phoenix Investors contract with Town of Normal town is valued at Reimbursement of up to half of TIF-eligible expenses; Town may reimburse itself up to $2,000,000 for infrastructure upgrades.
What type of contract is this?
This is a government contract, documented as a minutes record.
Where was this contract approved?
This contract appears in Town of Normal Joint Review Board Minutes November 2020 (Minutes), dated November 18, 2020 from Town of Normal town. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Phoenix Investors hold?
Phoenix Investors 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 Town of Normal town currently buying?
Explore Town of Normal town's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.