The Homewood Village board officially terminated the 23-year-old Southgate tax increment financing (TIF) district at the Dec. 10 meeting. The TIF was established in 2000 and officially expired in December 2023.
TIF districts are designated areas where a portion of the property taxes are used to fund projects to support growth for the community. TIF helps restore underdeveloped areas without using general municipal funds or raising taxes, Director of Finance Amy Zukowski said.
Homewood now…
