Stalled housing plan advances

After six years of concern over a stalled residential development within a special taxing district, Park Forest officials have come to terms with a new developer.

Skokie-based Econ Development Corp. has plans to complete the 46 remaining vacant lots of the Victoria Place subdivision in four phases. As an incentive, the village agreed to share as much as $644,000 of the tax revenue from Phase 1.

The deal is a winner for Park Forest, Village Manager Janet Muchnik said, because it stands to gain significant revenue from the development.