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Downtown Redevelopment

Schedule/Timeline

As the TIF District provides a limited window of opportunity, it is important that the Downtown Redevelopment Project move forward in a timely fashion. With this in mind, a feasible timetable was set-forth in the original Redevelopment Agreement that would permit the Village to pay-back the initial loan for this project through a conservative revenue stream as the buildings in this project were to be opened. This timetable originally envisioned full build-out of the entire project by Fall, 2004.

Current Status
The recent termination of the Redevelopment Agreement has necessitated a re-evaluation of the project and its timetable. It is anticipated that construction of the 62-unit condominium building will be underway in 2003, however, the project area south of Indian Creek will be revisited, may be redesigned, and will be rescheduled, with completion a minimum of 24 months away.