More Top Picks Best Bottle Sterilizers For Babies
player ready...A 12.6-acre park in the new Sears, Roebuck and Co. business park has finally won village approval.
After months of debate, trustees unanimously approved plans for the Village Green, which will be located in Prairie Stone, the home of Sears’ Merchandise Group Headquarters. The vote came during a special committee meeting last week. The plans will now go to the Plan Commission.
The Village Green will include a 1,000-seat amphitheater for community events, and village officials plan to build a storage facility on the site.
The cost of the Village Green project is still undisclosed, but officials did say Sears would pay for the project through its tax increment financing agreement with Hoffman Estates.
The TIF agreement uses increased property taxes created by development to pay off debt incurred by the village in bringing about the development.
One much-debated issue was providing parking for Village Green visitors.
Trustees want shared parking with Prairie Stone. The village is also building a 25-car lot near the village park, but officials don’t believe the lot will be sufficient.
Sears agreed to work with future property owners in the business park to acquire shared parking.
But Dan Hanesworth, vice president of Homart Development, a Sears subsidiary, said the requirement might affect their ability to attract tenants.