Owners of a couple of hundred acres of land are asking to be annexed to the Village of Lakewood on Tuesday.
The annexation is connected with the SportsPlex, which McHenry County’s Board has allocated millions of dollars in loan authority under the Federal Stimulus Program.
The zoning meeting starts at 6 at Red Tail Golf Course’s club house.
After the public hearing, a regular board meeting will be held.
This summary of the inducements to annex was provided by Village Administrator Catherine Peterson:
- Waiver of annexation fees
- Cash payment of $5,000 per parcel
- An abatement of the municipal portion of the property tax bill for a period of five or ten years
She said that the waiver is void when the property is sold, except for the homesteads on Ballard Road.
The $5,000 per property owner payments are “to help defray legal and other expenses they might have incurred,” Peterson wrote.
“The money will be borrowed from the Impact Fee Fund and repaid with the additional sales tax revenues from the new businesses that will be brought into the community:
- Crystal Woods Golf Course
- Craig Woods Golf Course
- The Gardens of Woodstock and
- Kolze’s Garden Center