Chicago Attorneys Guide Municipalities and Educational Institutions with Finance and Economic Development Issues
Our firm provides counsel to address the issues associated with budgets, tax levies and debt financing
At Klein, Thorpe & Jenkins, Ltd., our attorneys assist clients with finance and economic development issues. Whether the issues involve bonds, tax increments, downtown redevelopment projects or tax rebate agreements, we provide every client with a customized strategy.
Understanding a development agreement
In advising municipality and educational institution clients seeking to participate in a development project, we confirm that the agreement includes the necessary components to safeguard their interests. A development agreement delineates the duration of the agreement, the permitted uses of the property, the density of use, the maximum height and size of the proposed buildings, and provisions for reservation or dedication of land for public purposes. Our attorneys confirm that the agreement provides a construction timeline and includes the terms and conditions relating to applicant financing. Our attorneys also provide assistance with these areas:
Tax increment statute guidance
Tax increment financing statutes authorize a municipality to adopt a plan providing for the redevelopment of a designated area. Under municipality and educational law, the locality or school district is authorized to issue bonds or other obligations. The purpose of tax increment financing is that by encouraging development projects, the value of real property in a redevelopment area should increase. Our attorneys provide guidance and protect a municipality or school district’s best interests.
Ensure your finance and economic development legal concerns are addressed by contacting our skilled attorneys in Chicago and Orland Park
Klein, Thorpe & Jenkins, Ltd. helps municipalities and school districts with development issues. Contact our firm’s office in downtown Chicago at 312.984.6400 or in Orland Park at 708.349.1506 or online to schedule an initial consultation.