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File #: 170188    Version: Name:
Type: Ordinance Status: Passed
File created: 4/20/2017 In control: Village Board of Trustees
On agenda: Final action: 4/18/2019
Title: 101 - 109 S. Main Street Property - Redevelopment Agreement (RDA) Holladay Properties' Lilac Station Consideration and approval of a Redevelopment Agreement (RDA) between the Village of Lombard and Holladay Property Services Midwest, Inc.(the "Developer") that provides for: the sale of the property by the Village to the Developer, for $1,500,000.00; the redevelopment of the property with two (2) projects (the North Building Project - not to exceed 120 market rate luxury apartment units and between 3,000 and 4,000 square feet of commercial space; and the South Building Project - a 12,000 square foot commercial building); and economic incentives in relation thereto (up to $525,000.00 in TIF incremental revenues for the North Building Project and up to $500,000.00 in sales tax rebate revenues for the South Building Project). (DISTRICT #4)
Attachments: 1. 170188_BOT_04_27_17 SP MTG_101-109 S Main St_Wrkshp.pdf, 2. 170188_BOT_04_27_17 SP MTG_101-109 S Main St_RFP draft.pdf, 3. 101 - 109 S Main St Property.pdf, 4. 101-109 S. Main Street workshop 4-27-17.pdf, 5. 101 - 109 S Main St Property_06.12.17.pdf, 6. 101 - 109 S Main St Property_07.10.17.pdf, 7. Legistar #170188 101-109 S. Main Street.pdf, 8. Leg#170188.pdf, 9. 170188 Update 101-109 S Main St.pdf, 10. 170188_ECDC_4-9-18_101-109 S Main Street.pdf, 11. 170188_101 -109 S Main RFP ECDC 5-14-18.pdf, 12. Luxica 101 Main Street RFP_Luxica Proposal.pdf, 13. Hollady Properties Village of Lombard RFP Response.pdf, 14. Hollady Properties Gateway Gathering Space.pdf, 15. 170188_101-109 S Main St RFP ECDC 8-13-18.pdf, 16. Kane , McKenna 101-109 S. Main St. RFP Review.pdf, 17. 170188_101-109 S Main Street RFP ECDC 10-8-18.pdf, 18. 179188_101-109 S Main Street Property_RFP Review Update - LOW.pdf, 19. 170188_101-109 S Main Street RFP Supplemental Memo.pdf, 20. 170188_101 S Main 11-28-18 Mem.pdf, 21. 170188_101-10 S Main RFP BOT 1-17-19.pdf, 22. 170188_101-109 S Main Street RFP ECDC 3-11-19.pdf, 23. 170188_101-109 S Main Street Property Status Update, 24. 170188_101-109 S Main - RDA Holladay Propeeties Lilac Sta, 25. 170188_101 S Main RDA Exhibits C-1-2 D-1-2, 26. Ordinance 7648 101-109S Main St Property - Redevelopment Agreement Holladay, Lilac Station.pdf, 27. Cover Page 170188.pdf, 28. Holladay Redevelopment Agreement Fully Executed.pdf

Title

101 - 109 S. Main Street Property - Redevelopment Agreement (RDA) Holladay Properties' Lilac Station

Consideration and approval of a Redevelopment Agreement (RDA) between the Village of Lombard and Holladay Property Services Midwest, Inc.(the "Developer") that provides for: the sale of the property by the Village to the Developer, for $1,500,000.00; the redevelopment of the property with two (2) projects (the North Building Project - not to exceed 120 market rate luxury apartment units and between 3,000 and 4,000 square feet of commercial space; and the South Building Project - a 12,000 square foot commercial building); and economic incentives in relation thereto (up to $525,000.00 in TIF incremental revenues for the North Building Project and up to $500,000.00 in sales tax rebate revenues for the South Building Project).  (DISTRICT #4)

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