To help spur development, the Board approved a resolution on April 23rd temporarily abating certain fees for new home construction up to $2,000. Effective May 1, 2012 through April 30, 2014, Village impact fees, traffic impact fees, water tap on fees and the Village’s residential building permit fee will be reduced by up to $2,000 per unit.
The Village’s goal in eliminating these fees is to reinvigorate residential construction in existing subdivisions, including Huntington Chase, Saratoga Springs, Orchard Prairie North, Balmorea and Marquis Pointe. New construction in these subdivisions may eliminate vacant lots, add connectivity of sidewalks, add trees, generate more revenue for the Village and may spur additional commercial development.
“We hope that this program sends a message that we are ready for development and willing to work with builders and developers. Residential construction is a crucial component for the Village’s overall development strategy,” Village President Michelini explained.
“We are working to make Montgomery attractive for residential, commercial and industrial development,” stated Acting Village Administrator Jeff Zoephel. At last night’s meeting, the Village Board approved the fiscal year 2013 budget that included funding for a Tax Increment Financing analysis along the Orchard Road Corridor and last week, the Village launched Business Boost, a three-pronged program that focuses on business relations. “The Village Board and staff are committed to making Montgomery a premier place to do business” Zoephel added.
More information on the Business Boost program can be found online at www.ci.montgomery.il.us/businesses.
For additional information on this press release, please contact Jamie Belongia at 630-896-8080 ext. 1112.