File #: 220185    Version: Name:
Type: Development Project Status: To Be Discussed
File created: 5/17/2022 In control: Economic & Community Development Committee
On agenda: Final action:
Title: Yorktown Reserve Economic Incentive Agreement - Further Amendment Synergy Development requests a further amendment to the previously approved Yorktown Reserve Economic Incentive Agreement. The request would parse the previously approved Tax Increment Financing funding components associated with the Phase I residential redevelopment and the Business District #2 Greenspace/Yorktown exterior improvements. All other provisions of the Agreement would remain in full force and effect. Staff seeks a recommendation from the ECDC for staff and Village Counsel to work with Synergy to prepare a further amended agreement for Village Board consideration. (DISTRICT #3)
Attachments: 1. 220185_230 Yorktown Shopping Center Mall, 2. Synergy PRCP EI Introduction, 3. 220185_ Synergy Construction and Pacific Retail Capital Partners (PRCP) Economic Incentive - Update Memorandum, 4. 220185_ Synergy Construction Group LLC and Pacific Retail Capital Partners Economic Incentive - March 2023 Yorktown Reserve Updated Memorandum, 5. 220185_ Synergy Construction Group LLC and Pacific Retail Capital Partners Economic Incentive - June 2023 Yorktown Reserve Update, 6. BOARD MEETING 07-20-23 (1 of 3) 220185 Yorktown Reserve Economic Incentive Agreement, 7. BOARD MEETING 07-20-23 (2 of 3) 220185 Yorktown Reserve Economic Incentive Agreement, 8. BOARD MEETING 07-20-23 (3 of 3) 220185 Yorktown Reserve Economic Incentive Agreement Ordinance, 9. Ordinance 8181 Yorktown Reserve Economic Incentive Agreement.pdf, 10. Lombard Development Manager Yorktown Reserve Economic Incentive Agreement - unsigned.pdf, 11. Cover Page 220185.pdf, 12. Lombard Development Manager Yorktown Reserve Economic Incentive Agreement.pdf, 13. 220185_ Yorktown Reserve Economic Incentive Agreement - First Amendment.pdf, 14. BOARD MEETING 12-07-23 220185 Yorktown Reserve Economic Incentive Agreement - First Amendments.pdf, 15. Ordinance 8223 Yorktown Reserve Economic Incentive Agreement - First Amendment, 16. Lombard Development Manager LLC First Amendment Yorktown Reseve Economic Incentive Agreement- unsigned, 17. Ordinance 8223 1st Amendment to EIA for the Yorktown Reserve Devlepment.pdf, 18. Cover Page 220185.pdf, 19. Lombard Development Manager LLC Economic Incentive Agreement - First Amendment.pdf, 20. 220185_Yorktown Reserve Economic Incentive Agreement - Further Amendment Request.pdf

Title

Yorktown Reserve Economic Incentive Agreement - Further Amendment

Synergy Development requests a further amendment to the previously approved Yorktown Reserve Economic Incentive Agreement.  The request would parse the previously approved Tax Increment Financing funding components associated with the Phase I residential redevelopment and the Business District #2 Greenspace/Yorktown exterior improvements.  All other provisions of the Agreement would remain in full force and effect.  Staff seeks a recommendation from the ECDC for staff and Village Counsel to work with Synergy to prepare a further amended agreement for Village Board consideration.

(DISTRICT #3)

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