Homewood trustees will consider two measures Tuesday that would contribute to downtown redevelopment projects.
The first is a measure that would change the arrangement to help Third Coast Developers acquire a building on Ridge Road that is part of a planned develop of a residential/retail center.
Trustees agreed in October to purchase the building at 2049-2051 Ridge Road for $291,000 and immediately sell it to Third Coast. The new measure would instead assign the village’s purchase agreement to Third Coast so the developer could acquire the building without the village taking possession, even temporarily.
Another measure on the agenda would authorize the village to hire SB Friedman Development Advisors, a financial services consultant, to explore the possibility of establishing a new tax increment financing district (TIF) in the downtown area.
A previous downtown TIF district expired at the end of 2014. The new district, if established, would help finance downtown redevelopment projects and could contribute to the major train station renovation and the continued development of the Homewood Science Center.
In other business, trustees will consider two requests for liquor licenses, one for Redbird Cafe at 2057 Ridge Road and one for Raj’s Food and Liqour at 17532 Dixie Highway. Both businesses hope to open in the near future.
Trustees will also consider the village’s annual real estate tax levy and reappointments to the Tree Committee and the Beautification Committee.
The village board will meet at 7:30 p.m. Tuesday in the lower level of Village Hall, 2020 Chestnut Road.