Campton Hills moves forward with TIF ordinances for LFO redevelopment as RDA negotiations continue

Village staff reviewed three draft ordinances April 21 to establish the LFO redevelopment project area and adopt tax-increment financing (TIF) tools to support the proposed LeFox/Oregon (LFO) redevelopment. The ordinances—statutorily prescribed in much of their language—cover plan adoption, boundary designation and tax-increment allocation.

Carmen explained the ordinances are largely statutory and repeat required text: legal descriptions, maps, recitations of notices and the timeline steps already completed. She told trustees the clock for approving the ordinances runs within the statutory window after the public hearing and that, separately, the village’s negotiations on a redevelopment agreement (RDA) with the developer are advanced but still under active negotiation.

Carmen said the redevelopment agreement will set the flow of funds from the TIF (who gets paid and in what order), development budget items eligible for reimbursement from incremental revenues, and standard contract provisions on assignment, default and termination. The village is coordinating closely with its TIF consultant and legal counsel on those points, she said.

Several trustees expressed that they want the TIFF ordinances moved to action on May 5 to provide certainty on the district formation while the RDA is finalized. Staff and counsel said the ordinances could be approved before a final RDA; if the RDA is not approved the TIFF would dissolve. Trustees asked staff to continue negotiations and provide the draft RDA when it is ready for review.

The board indicated a consensus to put the TIFF ordinances on a future action agenda and continue RDA negotiations with the developer and taxing districts.