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Village reopens public hearing on proposed East Ogden Avenue TIF; consultant says area qualifies as conservation area
Summary
The Village of Lisle continued a public hearing July 21 on a proposed East Ogden Avenue Tax Increment Financing (TIF) district. Consultants told the board the area meets conservation-area eligibility criteria; the Joint Review Board recently recommended formation 5–3. The village will consider required formation ordinances in August.
Village of Lisle officials on July 21 reopened and then closed a continuation of the public hearing on a proposed East Ogden Avenue Tax Increment Financing district to hear consultant findings and public comment.
The redevelopment consultant, Jillian Gullett of SB Friedman Development Advisors, told the Village Board that the proposed redevelopment project area — roughly along East Ogden Avenue between Ivanhoe Avenue and Kingston Avenue — covers about 73 acres, 40 parcels (29 improved, 11 vacant) and 27 buildings. Gullett said the firm’s eligibility study found the area qualifies as a conservation area under the TIF Act: 52 percent of buildings are at least 35 years old, and four of 13 statutory factors were present, including deterioration on 23 of 29 improved parcels, inadequate stormwater utilities tied to chronic flooding, lack…
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