Title
Downtown Orland Park Project Update
History
At the May 2, 2022 Village Board meeting, the Village Board approved the Conceptual Master Development Plan for Downtown Orland Park. Downtown Orland Park is approximately 27 acres. The Conceptual Master Development Plan outlines the proposed development for the remaining 9.15 acres of Downtown Orland Park.
The approved conceptual plan was the foundation for the specifications for a Request for Proposals that was issued seeking a master developer. Two proposals were received, and at the August 15, 2022 Village Board meeting, the Village Board approved initiating negotiations on the Redevelopment Agreement (RDA) for the Downtown Orland Park project with Edwards Realty Company.
For this redevelopment to happen, the Village plans to:
1) amend the existing Main Street Triangle (MST) TIF District boundary to include only a subset of the parcels currently in the MST TIF District, and;
2) designate a new TIF District on some of the parcels currently in the MST TIF District, to be known as the Downtown Orland Park (DOP) TIF District.
At the October 16, 2023 Board of Trustees meeting, the Village Board authorized the execution of a Term Sheet with Edwards Realty for the Downtown Orland Park Redevelopment. Since the October 16, 2023, Term Sheet Approval, Village Staff have been meeting regularly with Edwards Realty to finalize the redevelopment agreement and to initiate the entitlement processes.
Previous Intergovernmental Agreement Attempt with School Districts 135 and 230
Since 2021, Village staff had been working with staff from D135 and D230 on an Intergovernmental Agreement for the Downtown Orland Park (DOP) TIF District. The Village previously drafted an IGA and provided it to D230 and D135 when it appeared that objections from the school districts had been overcome relative to student reimbursement. Previous Village correspondence highlighted the Village’s continued good faith efforts in resolving any looming...
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