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Geneva District 304 and Shodeen Group have reached a draft agreement about developer fees tied to the proposed 900-home “LaFox of Campton Hills” project.
The deal, approved 6-1 by the school board on August 5 and pending attorney review, outlines payments and protections for the district over the life of the development.
Key things to know:
The agreement calls for $6,800 per home, paid at the time of a permit is issued.
If the village creates a TIF district for infrastructure, the district will receive $18K–$19K annually for each enrolled student from the development (in addition to the per-home fee).
The district will allow a utility easement across a 25-acre property it owns at Keslinger and Brundige roads so the development can connect to water and sewer.
A public hearing on the Campton Hills annexation is expected in early September.
Watch the full Board of Education meeting recording.
Read more in this Shaw Local article.
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