Aledo gains six plus acres for development
The Aledo City Council voted to annex in a little more than six acres for a development named Eagle Point Subdivision at Monday's July 6 council meeting. The development is located northwest of the junction where Ill. Route 94 meets Ill. Route 17 on the east side of Aledo, across the highway from McDonalds, also known as Henderson Corner.
The council had a number of steps to go through including approving a redevelopment agreement, an annexation agreement and a preliminary plat with GDG, LLC. The city's Tax Increment Financing funds of up to $200,000 will be granted to GDG, LLC to help the group purchase the Henderson land.
As part of the agreement the city will vacate the frontage road that goes through the area, also known as "Corvette Curve" with plans to rebuild the road in a different place. As part of the development agreement the new road will be rededicated back to the city.
The Illinois Department of Transportation handed over the frontage road that goes through the property a couple of years ago. City Attorney Mark Walton told the council that when the road became the city's property there was no cost to the city for the road, but if the road was later vacated to a developer, then IDOT was to receive the assessed valuation of the road. The road covers approximately one acre of land. Commercially IDOT would need to be compensated.
Walton said the city could argue that the road was merely being moved, being as the redevelopment agreement states the city will regain the street, once it is completed.
Rex Johnson, spokesman for GDG, LLC, said it was pretty obvious the group would dedicate the street back to the city. "I don't want to be plowing snow there in the winter," he said.
Prior to the city council meeting, an Aledo Zoning Board meeting was held, with full agreement to allow rezoning the GDG, LLC acreage from A-1 residential to B-1 commercial, once the city approved annexing the land into the city.
For more on this story, see the July 15, 2009 issue of The Times Record.