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 . . .
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