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Board approves intergovernmental agreement with Woodridge on 75th Street TIF
Summary
Downers Grove GSD 58 approved an intergovernmental agreement with the Village of Woodridge covering the 75th Street Corridor TIF; the superintendent said the agreement includes protections for districts and returns revenue to the district while the village council has already approved the TIF.
The Downers Grove GSD 58 board approved an intergovernmental agreement with the Village of Woodridge concerning the 75th Street Corridor TIF at its April 13 meeting.
Superintendent (speaker 18) briefed the board that District 58, together with other affected districts (District 99 and Woodridge 68), negotiated the agreement and that the Village of Woodridge had already approved the TIF. He described the agreement as a generous revenue-sharing offer that still includes protections for school districts should future development produce sizable new-student impacts.
The superintendent noted that District 58’s portion of the TIF area is small and primarily includes Windsor Lake Apartments and the 75th & Woodward corner (a gas station, an Arby’s and a small strip mall); he said the district does not expect significant new-student growth from that site but took steps in the agreement to protect districts in case conditions change.
Board members voted by roll call to approve the IGA.
