VILLAGE OF ORLAND PARK - File #: 2024-0630

• File #: 2024-0630
• Version: 0
• Name: RESOLUTION OF THE VILLAGE OF ORLAND PARK, COOK COUNTY, ILLINOIS SETTING FORTH AND EXPRESSING AN OFFICIAL INTENT TO INDUCE CERTAIN EXPENDITURES OF REDEVELOPMENT PROJECT COSTS IN CONNECTION WITH THE REDEVELOPMENT OF THE PROPOSED 159TH & LAGRANGE REDEVELOPME
• Type: RESOLUTION
• Status: PASSED
• File created: 8/12/2024
• In control: Board of Trustees
• On agenda: 8/19/2024
• Final action: 8/19/2024
• Title: TIF Reimbursement - 159th and LaGrange - Recommended Resolution

Date	Ver.	Action By	Action	Result
8/20/2024	1	Village Clerk	PUBLISHED
8/19/2024	0	Board of Trustees
8/12/2024	0	Development Services Department	INTRODUCED TO BOARD

Title

TIF Reimbursement - 159th and LaGrange - Recommended Resolution

History

A Tax Increment Finance (TIF) study is underway, giving consideration to supporting the redevelopment of the property at the southwest corner of 159th Street and LaGrange Road.

Financial Impact

This resolution will enable any eligible costs incurred to be reimbursed through the TIF if an eventual TIF is indeed established.

Recommended Action/Motion

I move to adopt Resolution 2412, entitled: "RESOLUTION OF THE VILLAGE OF ORLAND PARK, COOK COUNTY, ILLINOIS SETTING FORTH AND EXPRESSING AN OFFICIAL INTENT TO INDUCE CERTAIN EXPENDITURES OF REDEVELOPMENT PROJECT COSTS IN CONNECTION WITH THE REDEVELOPMENT OF THE PROPOSED 159^TH & LAGRANGE REDEVELOPMENT PROJECT AREA TO BE REIMBURSED FROM PROCEEDS OF THE APPLICABLE SPECIAL TAX ALLOCATION FUND".