The Indian Head Park Board of Trustees voted 5-0 on Oct. 9 to set a public hearing for Dec. 11, 2025, on an ordinance to establish a proposed tax increment financing (TIF) district and separately approved an ordinance establishing a registry of interested parties and notice procedures for the proposal.

The board’s action moves forward an education campaign and formal TIF process that staff said will include a joint review board meeting in October and a final board decision anticipated Jan. 8, 2026. Staff presented three revenue scenarios for a 23-year TIF district, describing a baseline, a slow-growth conservative scenario and a more aggressive scenario; the consultant-style presentation showed a range of possible TIF fund totals over the life of the district from about $23 million (conservative) to nearly $40 million (aggressive).

Why this matters: a TIF district freezes the current equalized assessed value (EAV) of property inside the district and directs future growth in that EAV — the increment — into a special fund for public improvements and redevelopment inside the district. Staff emphasized the TIF is a financing tool, not a development plan, and said oversight steps required by law include annual financial reporting, a joint review board and a public hearing.

At the Oct. 9 meeting, a staff presenter explained the basic mechanics: “This does not raise property taxes for the district or for the community as a whole,” and said the staff scenarios use a starting EAV of $5,100,000 and a total-tax-rate assumption of about 7 percent to illustrate outcomes. The presentation also addressed common misconceptions and noted that if development raises property values, the increment captured by the TIF reflects that growth.

The board approved the registry ordinance, which staff said will notify taxing bodies, property owners within the proposed district and residential addresses within 750 feet of the site. Staff said the presentation materials and additional documentation will be posted on the village website and that notices to taxing bodies would be sent “as soon as tomorrow.” Staff also said they had met with District 204 and District 107 superintendents and finance staff and planned additional meetings with the fire protection district and park district in the coming week.

Discussion and next steps: staff told trustees they expect the joint review board to meet in October, the public hearing on Dec. 11 and a board vote on the ordinance in January. Staff said the village can amend the plan, declare a surplus and distribute excess funds proportionally to taxing bodies, or end the TIF early if goals are met. The registry ordinance passed on a 5-0 roll call; the motion to set the public hearing also passed 5-0.

The board will continue community engagement and public question-and-answer sessions before the December hearing; staff said they will publish materials online and hold listening sessions.

Less critical details: staff said the scenarios are planning tools, not forecasts; they used an illustrative starting EAV of $5,100,000 and assumed a 23-year statutory life for the TIF in the scenarios presented. Staff also described the legal requirement that any distribution of excess TIF funds would be made proportionally to all taxing bodies if the village elected to disperse surplus funds.