Deal would require trucking firm to buy property in Schaumburg by March 31

  • Experior Transport plans to build a new headquarters on a 55-acre site at the southwest corner of Irving Park and Rodenburg roads in Schaumburg.

    Experior Transport plans to build a new headquarters on a 55-acre site at the southwest corner of Irving Park and Rodenburg roads in Schaumburg. Courtesy of village of Schaumburg

  • A rendering of the gas station that would be part of Experior Transport's proposed headquarters at the southwest corner of Irving Park and Rodenburg roads in Schaumburg.

    A rendering of the gas station that would be part of Experior Transport's proposed headquarters at the southwest corner of Irving Park and Rodenburg roads in Schaumburg. Courtesy of village of Schaumburg

  • The 55-acre Murzyn-Anderson site owned by the village of Schaumburg at the southwest corner of Irving Park and Rodenburg roads, as seen from Rodenburg Road.

      The 55-acre Murzyn-Anderson site owned by the village of Schaumburg at the southwest corner of Irving Park and Rodenburg roads, as seen from Rodenburg Road. Eric Peterson | Staff Photographer, 2017

 
 
Updated 1/18/2022 7:01 PM

Schaumburg officials are scheduled to vote Tuesday on a redevelopment agreement with Alsip-based Experior Transport that lays out the expected time frame for the trucking firm's purchase of a 55-acre site from the village and its construction of a new headquarters there.

Though in the works since 2018, the plan for Experior's move to the Murzyn-Anderson property at the southwest corner of Irving Park and Rodenburg roads began to draw criticism just over a year ago from nearby residents of Roselle and unincorporated Schaumburg Township. Residents voiced concerns over noise, pollution and traffic from the proposed development.

 

The redevelopment agreement recommended by the village's general government committee Monday calls on Experior to close on its $7.5 million purchase of the land by March 31, though Schaumburg Economic Development Director Matt Frank said it could occur earlier.

The company already has provided the village with its proof of financing, which wasn't due until Jan. 31 under the pending agreement, Frank said.

Land-use approval, from both the village and the Metropolitan Water Reclamation District of Greater Chicago, is expected by June 30, followed by a two-year construction period.

The village has created a tax-increment financing district to assist Experior with up to $20 million in unanticipated wetland mitigation and related site costs identified by the Army Corps of Engineers.

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The Army Corps has since withdrawn its claim of federal jurisdiction over the project, and the wetland mitigation now is being monitored exclusively by the MWRD, Frank said.

A TIF district works by freezing the amount of property taxes local governments receive at the level of its first year. As property values increase, the additional taxes generated go to a fund reserved for public improvements, such as wetland mitigation.

A TIF district usually expires after 23 years but can be dissolved earlier once costs have been paid off.

Though the possibility of this TIF district's reaching its goal in only 10 or 12 years has been discussed informally, no promise of that was made in its legal documentation.

Experior's original purchase contract was to buy the land for only $5 million, but that amount was raised to $7.5 million as it was learned how much work and assistance would be required to make the land developable for its purposes.

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