Village of Orland Park Statement Regarding SouthtownStar Article On Main Street Redevelopment

Village of Orland Park Statement Regarding SouthtownStar Article On Main Street Redevelopment
Posted on 08/04/2011

On Thursday, August 4th, the SouthtownStar ran an article about the proposed first phase of redevelopment of the Main Street Project in Orland Park. Village staff met with members of the SouthtownStar editorial team on August 3rd to introduce them to the first phase of the redevelopment.

The purpose of this discussion was to focus on the proposed project, a public private partnership with Flaherty & Collins to construct a luxury residential community that will serve as the catalyst for future developments.

Given that this project is scheduled for public discussion in early August, the intent of the meeting was to inform SouthtownStar staff about the project and provide substantial background details.

The SouthtownStar published an article with misleading information that speculates on financial deal terms. The article states that the village has not estimated any impact on tax bills, which is incorrect.

After extensive analysis and review by development and financial experts, the village has estimated that there would be no impact on tax bills and that the project revenues will be sufficient to pay for the financing of the project.

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