Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Village staff reports progress on TIF eligibility study; draft due in March, hearings planned for spring
Summary
Economic development staff said a consultant, SB Friedman, is finalizing proposed TIF boundaries with a first draft expected in March, a finalized report in early April and a sequence of joint review board and public hearings planned for May and June.
Pingree Grove staff reported progress on a tax‑increment financing (TIF) eligibility study at the March 3 village board meeting and outlined a tentative schedule for public review and adoption.
Why it matters: A designated TIF district could create a tool for financing public improvements by capturing incremental property‑tax growth within a boundary. The study and subsequent approvals are the first formal steps in that process.
Staff update and schedule: Economic development staff said consultant SB Friedman is finalizing proposed TIF district boundaries and that a first draft of the eligibility report is expected in March, with a finalized report in early April. If that timeline holds, the village would adopt an ordinance setting the time and place for joint review board meetings and public hearings in late April. Staff said the joint review board meeting would be scheduled for mid‑May, the public hearing for mid‑June and formal adoption of a TIF ordinance in late June or early July, subject to the statutory notice and hearing process.
Next steps and public input: Staff said more notices and newsletters will be distributed as the process advances and invited trustees to submit questions; consultants and staff will incorporate board feedback before public hearings.
What’s next: Staff will deliver the consultant’s draft in March, review comments with trustees and publish formal notices for the joint review board and public hearings in the spring.
