After more than 10 years of planning, the village is poised to establish a tax increment financing district for the 38-acre Main Street Triangle.
On Monday, the Village Board approved several preliminary ordinances, including a redevelopment plan, and alsoapproved an ordinance adopting the TIF, which will help to pay for redevelopment of the site, bound by La Grange Road, 143rd Street and Southwest Highway. Trustees also agreed to plans for Fountain Village, a 35-home subdivision near Wolf Road and 179th Street.
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The approval of the final plan for Fountain Village, proposed by Corrib Construction, Inc. of Lemont, came after several meetings with homeowners who live in the nearby Eagle Ridge subdivision and objected to the original density of 50 town homes proposed on the site.