Oak Park is starting a second round of request for proposals (RFP) for property it owns along Madison Street.
Jupiter Realty, which was the preferred developer on the project, is no longer in that position, but city officials say the developer is welcome to submit another RFP. The trigger for the second round appears to be the village's purchase last year of another property along Madison Street, as well as the fact that Jupiter did not submit an application to develop the property, though the village waited several months.
Dan Moroney, one of the village's trustees, said the law requires that the village issue a second request for proposals, and in addition, the expiration date of the tax increment financing (TIF) district is December 31. A TIF district is an area of a city that experts feel would not attract outside investment unless local government also stepped in.
Although Moroney wants Jupiter to resubmit its plans, he says he wants to see as many RFPs submitted as possible, stating he feels that the area has huge development potential. He would like to see that section of the city redeveloped, giving village residents something special on the property.
Matters like this are important to an entire community, so officials might consider working with a flyer printing company on a update letter for residents, targeted for Mailing just to the local area.
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