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CITY OF WEST CHICAGO
DEVELOPMENT COMMITTEE
AGENDA ITEM SUMMARY
ITEM TITLE:
AGENDAITEMNUMBER: _ 4:4.
Development Agreement between City of West Chicago
and AVG High Street LLC FILE NUMBER:
COMMITTEE AGENDA DATE: July 12, 2021
Ordinance No. 21-O-0020
COUNCIL AGENDA DATE: August 2, 2021
STAFF REVIEW: Tom Dabareiner, AICP SIGNATURE
APPROVED BY CITY ADMINISTRATOR: Michael Guttman SIGNATURE
ITEM SUMMARY:
On January 11, 2021, Aspen Ventures Group presented a well-received concept at the Development
Committee meeting that showed eight townhouses on City property at the corner of High Street and
Center Street. That developer created a new LLC, AVG High Street LLC, and it seeks to construct
townhouses in substantial conformance with what was described that evening and adopted in the
Central-Main Street Redevelopment Plan. The development would occur on Block Two of the Plan, as
intended. This is an important first step in bringing the Plan to fruition.
A Development Agreement was prepare to help manage the land sale and other matters. The main
components of the Development Agreement are: (1) the land, owned by the City, is provided to the
developer at no charge for the purpose of building eight townhouses; (2) cash in the amount of
$175,000 will be paid the developer to cover the gap in development costs, which is an eligible TIF
expense.
Prior to adoption by the City Council, the availability of the land must be presented in legal notice
format. This is why the Development Committee sees this material in July but City Council will not see
it until August.
Update: The legal notice was published in the Daily Herald on July 15, 2021, thus it is ready for a vote
by City Council.
ACTION PROPOSED:
Discuss and recommend approval Ordinance No. 21-O-0020.
COMMITTEE RECOMMENDATION:
On July 12, 2021, members of the Development Committee voted 6-1 in favor of recommending the
Development Agreement for townhouses near High Street and Center Street with AVG High Street,
LLC.
Attached: Ordinance No. 21-O-0020