Par Development Inc.

Gilberts, IL: (May-29-07) Disgruntled Gilberts residents may not have to travel miles in order to do their grocery shopping if plans to build a 20-acre retail site are successful. The plans resulted out of a settlement that village officials reached with developers to attract business and grocery stores that will make living in Gilberts more convenient for its residents. Village officials are putting together brochures and other marketing materials to let businesses know about retail development near Ryland Homes' Town Center. The village hired Par Development Inc., who will coordinate the project located about a quarter-mile east of Tyrrell Road on the north side of Illinois 72. Though infrastructure improvements, including access lanes to the site, were under way, a water services dispute seemed a spanner in the works.

In a recent settlement reached between West Dundee Village and Par Development, Par agreed to reimburse the village $179,000 for 8.4 of the retail site's 20 acres that had been part of West Dundee's planning jurisdiction before it was annexed by Gilberts. The amount agreed upon was based on the difference in tap-on fees between the two villages and the amount of water and sewer revenues West Dundee would have received from the area in a 15-year period. The settlement allows officials to avoid any litigation that is typical for this type of situation. [COURIER NEWS: GROCERY DEVELOPMENT]

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Published on May-30-07