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Palatine council authorizes TIF eligibility study for East Dundee Road Corridor
Summary
Council authorized the village manager to negotiate with SB Friedman Development to perform a 5–6 month TIF eligibility study, redevelopment plan and service designation for the proposed 2023 East Dundee Road Corridor; the motion funds a study only and does not create a TIF district.
The Palatine Village Council on Sept. 11 authorized the village manager to negotiate and enter into an agreement with SB Friedman Development to undertake a Tax Increment Financing (TIF) eligibility study, a redevelopment plan and a designation of services for the proposed 2023 East Dundee Road Corridor study area.
Staff emphasized that the action does not create a TIF district; it funds studies to determine whether statutory criteria are met. The estimated timeline for the work is…
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