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Lindenhurst board schedules March 21 public hearing for proposed Grand Avenue TIF district
Summary
The Village Board adopted an ordinance Jan. 24 setting a March 21, 2022 public hearing for the proposed Grand Avenue Tax Increment Finance redevelopment area and scheduled a Joint Review Board meeting for Feb. 16.
The Lindenhurst Village Board on Jan. 24 adopted an ordinance setting a public hearing for the proposed Grand Avenue Tax Increment Finance (TIF) redevelopment project area.
The ordinance schedules a public hearing for March 21, 2022 at 7:00 p.m. and directs publication of a formal notice that will include a legal description and a map of the proposed TIF boundaries. The ordinance also sets a Joint Review Board meeting for Feb. 16 at 10:00 a.m.; the Joint Review Board is composed of the taxing districts that would be affected by the proposed TIF.
Trustee Pat Dunham moved to adopt the ordinance; Trustee Dawn Suchy seconded. The motion passed unanimously in attendance with a 6-0 roll-call vote. The board packet and the public notice, the ordinance says, will identify the proposed boundaries and provide the legal description; questions about the proposal were directed to the Village Administrator.
A TIF district diverts future property tax increments within a defined boundary to finance redevelopment activities inside that boundary rather than flow to overlapping taxing bodies. In this case the ordinance is limited to setting the hearing date and publishing the required notice; no plan or final boundary was adopted at the Jan. 24 meeting.
Next steps include the Feb. 16 Joint Review Board meeting and the March 21 public hearing, at which residents and taxing bodies may comment on the proposed district before the board considers any formal adoption of a redevelopment plan or TIF designation.
