The Homewood board approved a budget amendment Tuesday, March 11, that will enable the village to make the second payment in the Stoney Point Grill incentive package. The $85,000 payment is one of six the village agreed to pay as part of an $850,000 incentive package, more than half the[Read More…]
Tag: TIF district
Southgate TIF district expired and is officially terminated
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[Read More…]
Homewood takes first step toward establishing a TIF at former Walmart site
Homewood trustees unanimously approved a contract with Ryan LLC to begin the process of establishing a new tax increment finance (TIF) district on the west side of Halsted Street, south of 175th Street, including the former Walmart store property. There were no questions or comments about the contract from trustees[Read More…]
Walmart says Homewood store will close, failed to meet financial expectations
Walmart officials announced on Wednesday that the Homewood store at 17550 Halsted St. will close on March 10 because its financial performance has not met company expectations. “This decision was not made lightly and was reached only after a thorough review process,” said Felicia McCranie, communications director for Walmart in[Read More…]
Tax levy, 2 proposed businesses on Homewood trustees’ agenda
Owners of two proposed businesses will have requests on the Homewood Board of Trustees agenda during its regular meeting Tuesday, Oct. 27. The board will also hear a presentation on the draft 2020 real estate tax levy and consider ordinances to formally establish a downtown TIF district. Zenovia Love is[Read More…]
Flossmoor seeking proposals for commercial development
Flossmoor officials have extended the deadline to submit commercial development proposals for vacant property in the village’s southwest corner. The village is looking to develop just under 29 acres (17 parcels) of the 36 acres it owns in the former tax increment financing district (TIF) near Meijer.
Public hearing for new TIF district in Homewood set for Tuesday
The Village of Homewood will host a public hearing at 7 p.m. Tuesday to provide information and invite comment about a proposed tax increment finance district on the site of the former Bogart’s Charhouse. The hearing will include a report from the Joint Review Board, which includes representative from other[Read More…]