Lisle board adopts East Ogden Avenue TIF district after unanimous votes

The Village Board of Lisle voted unanimously Sept. 15 to designate the East Ogden Avenue area as a redevelopment project area, approve the associated redevelopment plan and adopt tax increment financing for the district. The three separate ordinances were presented together and each passed on roll-call votes. The measures create a tax increment financing (TIF) district intended to provide an incentive tool for redevelopment within the East Ogden Avenue project area. Village Manager Cook told the board the ordinances reflect about a year of work that began with an eligibility study performed by SB Friedman and that the ordinances demonstrate procedural compliance with the TIF Act. The board’s action authorizes the village to use incremental property tax revenue generated within the TIF project area to support redevelopment activities described in the adopted plan. Attorney Jerusick, the village’s special TIF counsel, was present for questions but offered no additional remarks during the vote. During public comment, resident Dan Greco said he hopes the village’s TIF assistance will be “targeted to solutions and not just a handout to a developer.” His comment was read into the record during the same agenda item. Each ordinance was called separately and approved by roll call. The board did not discuss amendments to the redevelopment plan during the meeting, and no objectors were identified in the hearing record presented to the board that evening. The TIF district boundary includes the Loch Former property, which Manager Cook said is within the proposed project area. Manager Cook characterized the board’s approval as making TIF available as an economic development tool within the defined area; he did not describe specific incentives or amounts to be provided to any particular project at this meeting. The board’s adoption of the TIF district is a procedural step that enables the village to proceed with further entitlements, agreements, and potential redevelopment projects subject to the plan and applicable state law. Further board actions would be required to grant developer-specific incentives, appropriate funds, or enter into redevelopment agreements. The ordinances passed on unanimous votes and were transmitted to the record with standard roll call affirmations. The board did not set any immediate implementation dates or funding commitments at the meeting.