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200403
| 1 | | | Ordinance | An Ordinance Authorizing an Economic Incentive Agreement for the Hoffmann Development, Comprising a Part of the Butterfield-Yorktown TIF District and a Part of the Butterfield Road/Yorktown Business District No. 2 of the Village of Lombard, Illinois
The Ordinance approves an Economic Incentive Agreement between the Village and Hoffmann 600 Lombard, LLC, and Illinois limited liability company (the “Developer”), pursuant to which the Developer will acquire title to an approximately 27.55 acres parcel of property, located at 600-690 East Butterfield Road (the “Property”) and redevelop the Property with a project consisting of a Golf Social location, a full-service sit down restaurant (e.g. Moretti’s Italian restaurant), a fuel center, related ancillary retail and service commercial uses, potentially up to 400 future multifamily dwelling units, and a connection road between Butterfield Road and 22nd Street (the “Project”), with the projected costs of the Project, including the costs of the acquisition of the Property, being estimated to be $159,000,000, and the Village will reimburse th | approve as amended | Pass |
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