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Village attorney urges developer recruitment strategy to address TIF shortfall
Summary
At the Oct. 17 JRB meeting, village attorney David Silverman urged the village to develop a recruitment strategy to attract complementary development and accelerate recovery of the TIF fund balance, but no formal directive or vote was taken.
David Silverman, identified in the meeting as the village attorney, told the Joint Review Board the village should pursue an active developer recruitment plan to bring investment into the Route 2072 corridor.
"We should come up with a developer recruitment strategy," Silverman said, noting the district’s negative fund balance and suggesting the Dollar General developer might be engaged about complementary uses that could increase increment collections. He said doing so could shorten the time it takes for the fund balance to return to positive if new projects occur on unimproved land in the district.
The recommendation was recorded as discussion; the board did not adopt a resolution or assign staff a formal directive during the meeting. The suggestion followed the consultant’s summary that the village had invested heavily in infrastructure and that no new private projects had started in the previous 12 months.
