Peoria School District Secures $5M Land Cash Deal Amid Development Talks

August 01, 2025 | Campton Hills, Kane County, Illinois


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Peoria School District Secures $5M Land Cash Deal Amid Development Talks
In a pivotal discussion during the July 29, 2025 Village Board Special Meeting, the Village of Campton Hills addressed significant financial agreements with local school districts regarding new developments. The meeting highlighted a crucial land cash agreement, where the school district will receive an upfront payment of $1.025 million, along with a per-student allocation of $19,588 for each child enrolled over the next 23 years, adjusted annually for inflation.

Trustee discussions emphasized the importance of proactive negotiations with the school district to ensure financial stability amid anticipated growth. The school district's cooperation was noted as a key factor in moving forward with the Tax Increment Financing (TIF) proposal, which aims to support infrastructure development for a planned 900-unit residential project.

Concerns were raised about the implications of developing on greenfield sites, with trustees acknowledging the need for substantial infrastructure investments, estimated between $20 million to $25 million. This investment is deemed necessary to accommodate the new development without burdening existing ratepayers.

The meeting underscored the collaborative efforts between the village and the school district, with assurances that the latter would not oppose the TIF if certain conditions were met. This proactive approach aims to secure educational funding and infrastructure improvements, setting a precedent for future developments in the area.

As the village moves forward, the successful negotiation with the school district and the planned infrastructure investments will be critical in shaping the community's growth and ensuring that both educational and developmental needs are met.

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Scribe from Workplace AI
Scribe from Workplace AI