Board reviews Woodridge TIF intergovernmental agreement; district to consider signing next month

Administrators presented a first-review intergovernmental agreement (IGA) between Community High School District 99 and the Village of Woodridge concerning a proposed tax increment financing (TIF) district.

Hank Willis said district attorneys and administration worked with impacted elementary districts and Village staff to craft an agreement the district’s lawyers consider protective of the district’s interests. The IGA was provided for board review this month and will be placed on the agenda for approval at the next meeting; the administration recommended board members take time to review and submit questions beforehand.

When asked about potential student impacts, administration said they are uncertain because the TIF area’s ultimate land use mix has not been determined: it could include senior-restricted housing, general residential, or commercial development. Staff explained how incremental revenue from a TIF is distributed: 8% of the increment is distributed among taxing bodies, with the district’s share proportional to its taxing share; if residential property generates new tax revenue, that would increase the district’s share in proportion to other taxing bodies. If no new revenue is generated (for example, if the area remains commercial or no net new value arises), there would be no increment to distribute.

Administration noted the TIF is designed to run for 23 years and that the IGA includes a mechanism for the district to make a case for additional funds if demonstrated costs from development materialize. The board was told the Village’s administrative team has worked with district staff to address concerns and that the IGA represents a balanced approach; board authorization to sign the IGA may be requested at next month’s meeting.