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Lisle board schedules public hearing, joint review board meeting on proposed 12-year Downtown TIF extension
Summary
Trustees approved an ordinance to call a Sept. 21 public hearing and an Aug. 17 joint review board meeting for Amendment No. 1 to extend the Downtown TIF District by 12 years, a step required by recently passed House Bill 1441.
The Village of Lisle Board on July 20 approved an ordinance to set a public hearing on Sept. 21 and a joint review board (JRB) meeting on Aug. 17 to consider Amendment No. 1 to the Downtown Tax Increment Financing District No. 3, which would extend the district’s term by 12 years.
Village Manager Cook told trustees the ordinance is a local procedural step related to House Bill 1441, which the Illinois General Assembly recently passed and sent to the governor. "This legislation includes the statutory authorization to extend the term of the Downtown TIF District by 12 years," Cook said, while noting the governor has up to 60 days to sign the bill; staff has filed copies of the proposed amendment with the village clerk and on the village website for public review.
Passage of the ordinance schedules public review: the public hearing before the village board is set for Sept. 21 and the JRB meeting for Aug. 17; Attorney Jurisic anticipates final board action on Oct. 5 if the process proceeds on the proposed timeline.
What’s next: staff will proceed with the JRB meeting and public hearing as scheduled and return to the village board for potential final action after the governor’s action and required local reviews.
