(A) The city desires to encourage the development and construction of new homes within the city.
(B) The corporate authorities of the city believe that it is in the best interest of the city to establish a formal program that will encourage these types of activities to occur and help them to accomplish these goals.
(C) The city believes that the adoption of a Residential Home Development Program (the “program”) will best be used to accomplish these goals and objectives.
(D) The city will utilize funds collected through the Vienna TIF District pursuant to 65 ILCS 5/11-74.4 to fund and administer all eligible activities undertaken pursuant to the program.
(Res. 22-01, passed 1-19-2022)