By Megann Horstead | For The Sentinel
To ensure public improvements are in place promoting safety near new development plans for a 290-acre site of incorporated land, the Troy Community Consolidated School District 30C Board of Education earlier this year agreed to a pact with the Village of Channahon.
According to the agreement, the property generally located south of Route 6 and east of I-55 will be annexed to the Village of Channahon.
Board member Kristin Dawn Cross gave credit to the superintendent and the executive director of operations and finance for their work on this matter.
“This promotes business and infrastructure within our community,” she said. “We did some compromise, and it was a good thing.”
Board Secretary David Talarico agreed.
“I think it’s the right way to do an agreement and a right reason to, as well,” he said. “It’s fair to the taxpayers, it’s fair to us.”
Talarico added that forming this pact is the right course of action to take for other taxing bodies involved in this process also.
Crossroads 55 intends to develop the land as four or more projects come on line.
The developers wanted to put the property to use, and recognized that it’s not commercially feasible without assistance to improve the I-55 East Frontage and Amoco roads and extend municipal water service lines.
Local taxing bodies involved in the effort include the Village of Channahon, Channahon School District 17, Minooka Community High School District 111, Will and Grundy counties, Troy Community Consolidated School District 30C, Will County Forest Preserve District, Channahon Park District, Channahon Fire Protection District, Community College District No. 52, Channahon Township, Channahon Township Road District, Three River Public Libraries District.
The construction consists of a number of projects, including improvements to roadways, traffic signals and a water main.
Anticipated costs include road improvements of $7,855,500 and a water main of $2,620,509. Additionally, traffic signal improvements found reimbursable will not exceed the lesser of $500,000.
The agreement stipulates that each of the taxing bodies involved will reimburse Crossroads for the improvements by ordering the Will County Clerk to abate 100 percent of the real estate taxes otherwise payable to that district for each project.