Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
SB Friedman presents 10-year status report for Lisle downtown TIF; board hears options to extend or dissolve
Summary
SB Friedman told the Village Board the Downtown TIF generated about $192,000 in revenue and spent roughly $120,000 on studies over 10 years, leaving a $71,757 fund balance; a redevelopment agreement with F & C Development was terminated after missed deadlines, and consultants said the village can either extend the TIF or dissolve and reestablish it.
At a Nov. 17 public hearing, the Village of Lisle received a statutorily required 10‑year status report for its Downtown Tax Increment Financing (TIF) district from SB Friedman Development Advisors.
"This TIF was adopted in March 2015," said Jillian Gullett of SB Friedman Development Advisors, introducing the firm's findings. Gullett said the district generated nearly $192,000 in revenues over the past decade, all attributable to inflationary growth in existing property values, and that nearly $120,000 was spent on studies, plans and…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
