In August, Homewood trustees pulled the plug on a tax increment financing district that was “under water.” Tuesday, they will consider moving forward to replace it with a new TIF district in about the same location.
175th Street east of Loomis
Avenue. Village officials are
proposing a new TIF district
be established in the area to
promote redevelopment.
(Photo by Eric Crump/HF
Chronicle)
The 175th Street TIF, started in 2011, had experienced declining equalized assessed valuation (EAV) and therefore was not generating any money to use for redevelopment projects.
The new district, the Northeast TIF District, will include 30 to 35 acres along 175th Street from about Loomis Avenue to just east of Halsted.
Trustees will consider an ordinance Tuesday that calls for a meeting of a joint review board consisting of representatives of affected taxing agencies and sets a public hearing date to entertain questions and comments from residents.
In other business, the board will
- consider a resolution honoring Deputy Police Chief Denise McGrath for 20 years of service to the village;
- consider a proclamation recognizing the week of May 17-23 as Public Works Week. Homewood Public Works Department will hold an open house Saturday, May 16, from 11 a.m. to 2 p.m. at 17750 Ashland Ave.;
- consider a Downtown Business Incentive agreement with Wellness Integrative Center, 18036-18038 Gottschalk Ave. for $833 to cover 50 percent of a fire alarm system upgrade;
- consider a resolution appropriating $30,000 from the Motor Fuel Tax fund for the street maintenance projects;
- consider the annual report of the firefighters pension board.
The board meets at 7:30 p.m. in the lower level of Village Hall, 2020 Chestnut Road.
