Homewood took the first step toward establishing a new Tax Increment Financing district at the village board meeting Tuesday.
About 33 acres of property near the intersection of Kedzie Avenue and 183rd Street is an area the village considers an important entrypoint into town. The area has 28 parcels of land, mostly south of 183rd Street between Kimball Avenue and Robin Lane.
The aim of a TIF district is to encourage redevelopment of a blighted area that is unattractive to potential new owners. Some of the property taxes from businesses in the designated area are held by the village and reinvested into the area’s infrastructure or even the business properties themselves.
TIF districts are one of the tools used in Cook County to help municipalities compete for business with the collar counties and Indiana, where property taxes are lower.
“I think that this is something that was a long time need and I’m glad to see this coming through. I think this will be really good for that part of town,” Trustee Lisa Purcell said.
A joint review board and public hearing are the next steps in the process for the new district. It’s made up of representatives from local school, parks and library districts and other taxing bodies as well as a member of the public. The review board will meet Sept. 1.
A public hearing will be held before the village board meeting on Sept. 28. The hearing is open to the public and written comments can be submitted at village hall before that date.
In other business, the village also extended the leaf pickup contract with Homewood Disposal for just under $20,000. It’s the last of two one-year extensions on a contract first signed in 2019.
Tyler Swyndroski was sworn in as a new member of the Homewood Fire Department. He was born in California and grew up in Tinley Park and attended Lincolnway North High School.
Swyndroski was a part-time firefighter in Country Club Hills then in Homewood. He became a full-time officer in Manteno in February. He was hired full-time in Homewood last month.
Nakina Shanklin was appointed to the town’s beautification committee for a five-year term and Kalinda Preston was sworn in as a member of the appearance commission for a three-year term.