At its May 13 meeting, the Village of Homewood board approved a Class 8 property tax relief measure that was requested by Jeffrey Vierra, owner of the building located at 17627 Halsted St. 

The 4,392-square-foot property consists of two commercial spaces. One is currently Dave’s Hot Chicken and the other is vacant, Angela Mesaros, director of economic and community development, said. 

According to Mesaros, Class 8 supports commercial development through expansion and employment opportunities. 

The rehabilitation of the building has created several jobs for construction and restaurant employees, she said. 

The Cook County tax system has made it difficult for commercial properties to compete with lower tax rates in nearby counties and Indiana, where rates are about 45% less, Mesaros said. 

With the Class 8 incentive, the property taxes for the building would be approximately $41,000 a year. Without it, it would be about $96,552, which saves the owner approximately $55,552 annually, she said. 

Qualified commercial property under the Class 8 program is required to be assessed at 10% for the first 10 years and every 10-year renewal period. If not renewed, it would be assessed at 15% and 20% in year 11 and 12, followed by 25% years after that, Mesaros said. 

In other business, a water study change order was approved in the amount of $23,500 for professional services provided by Burns & McDonnell of Chicago to conduct a water rate study for Homewood, Finance Director Amy Zukowski said. 

Since the board approved the proposal by Burns & McDonnell in May 2024, significant work has been done, and additional work is required, she said. 

The company will provide the village with a final report from the study this summer, Zukowski said.