tax increment financing

TIF to help Bogart's redevelopment on Homewood board agenda

Homewood trustees will have an opportunity Tuesday to continue the process of creating a small tax increment financing district (TIF) downtown that is expected aid the redevelopment of the former Bogart's Charhouse site at 18225 Dixie Highway.

Homewood presents new TIF district plan at public hearing

Homewood officials and a financial consultant introduced the plan for a proposed tax increment financing (TIF) district in the downtown area during a public hearing at village hall on Tuesday, April 11.

Several residents asked questions about the TIF plan and about one of the first projects expected to benefit from the district. Their concerns included boundary decisions, parking capacity, relocation assistance and infrastructure problems.

Homewood approves feasibility study aimed at downtown redevelopment

Homewood trustees approved two ordinances that will help bring the redevelopment plans for the central business district closer to reality. At the Jan. 24 village board meeting, the board members unanimously agreed to authorize a study of the feasibility of establishing a downtown transit oriented development tax increment financing (TIF) district. 

Meijer project sparks interest from developers interested in Flossmoor

Flossmoor’s Meijer superstore isn’t scheduled to open until next spring or summer but developers are already contacting the village about possible retail projects adjacent to the Meijer complex. Village Manager Bridget Wachtel said Friday that two developers have asked Flossmoor officials about retail possibilities near the Meijer store, currently under construction just north of Vollmer Road and east of Crawford Avenue.

Homewood proceeds with creation of new TIF district on 175th Street

Homewood officials believe the 175th Street business corridor needs an economic boost. Village trustees approved an ordinance Tuesday that continues the process of creating a new tax increment financing (TIF) district to replace one that was created in 2011 in the same area. 

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Flossmoor, IL 60422