By Michael Peppers
American Aluminum Extrusion gets one of the last stamps of approval needed to redevelop Roscoe's old warner electric building.
The company's plans would bring 135 new jobs to the area over the next year.
Roscoe village trustees unanimously passed three interconnected ordinances that basically give American Aluminum the green light.
The first ordinance board members passed approves the redevelopment plan put together by a consultant for the old Warner site. A second ordinance. Lets money for the project come from tax increment financing, which basically means taxes are frozen at a certain level and anything that grows above that level gets re-invested.
In order for it to qualify for that money, since the building's been empty for more than a decade, a third ordinance had to designate the property as a conservation area.
"The property has been on the decline for the last 10 years," said Village President David Krienke.
"It will be good to get this property back and working for our community in the long term."
Construction crews have already begun working on new water and sewer lines for the site. This work had been put off until the village received a $750,000 grant it had been waiting for. Kreinke says American Aluminum has taken initial steps to remodel the building. The company projects 500 new jobs over a period of 5 years. If things go well. Krienke is excited for the potential local businesses.
Besides the manufacturing, it also creates the people in your community to shop before they work and at the end of the day.
American Aluminum Extrusion still needs to officially purchase the building from its original owner. The company also has to establish a redevelopment agreement with the village on specific plans. Krienke says he expects that to happen in a few weeks.
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