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McHenry council reviews draft TIF eligibility reports for North Richmond Road and Route 120
Summary
Consultant Tesco Associates told the council two study areas meet conservation-area standards for Tax Increment Financing but fall short of blight thresholds; councilors and residents debated boundaries, wetlands inclusion and displacement risks before staff clarified next steps.
A consultant told the McHenry City Council on Feb. 17 that two proposed Tax Increment Financing (TIF) study areas — north along Richmond Road and west along Route 120 — meet the lower conservation-area eligibility standard and could move to a redevelopment planning phase if the council so chooses.
Peter of Tesco Associates told the council he evaluated each area against the 13 statutory eligibility criteria and "we hit the eligibility standards on both of them." He said neither area met the higher blighted-area standard, which the city would have had to meet by showing five of the 13 criteria; instead, both met the conservation-area threshold that requires meeting three criteria plus an age-based building threshold.
The presentation outlined several changes to study-area boundaries. For North Richmond…
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