The Rantoul Board of Trustees last week approved a redevelopment agreement with the real estate company Cameron-Juday LLC for asbestos remediation work at the village's Chanute Development Project.
The project is part of an ongoing effort to rehabilitate the area around the former Chanute Air Force Base. Since being abandoned in 1993, the base and its infrastructure have been a source of chemical contamination and environmental damage.
The village will pay for the work through tax increment financing, which allows the village to leverage future tax revenue to pay for a community project like the asbestos remediation.
The exclusive agreement was made without the traditional bidding process and is effective immediately.
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