Tax Increment Financing (TIF) is a program that allocates future property tax revenue in a particular area, or TIF District, to pay for improvements within that area. The life of a TIF District is 23 years in Illinois but can be extended for another 12 years, if the state legislature approves the extension. For more information about the TIF process and requirements, read A Resource Guide to Tax Increment Financing (TIF) created by SB Friedman. The following provides some general information about the three active TIF Districts located in the City of West Chicago.
More specific information about opportunities in any of the TIF Districts can be directed to Kelley Chrisse, Economic Development Coordinator, at 630-293-2200 x157 or email@example.com.
Downtown TIF District No. 2
The original Downtown TIF District was terminated on December 31, 2021. The original boundaries included Downtown West Chicago from Route 59 through the historic downtown on Main Street and Washington Street when it was designated as a TIF District in 1990 and extended in 2013. Although TIF funds were used to enhance the public and private streetscape, fund special events, and encourage private investment, the goals of the Redevelopment Plan were not fully met. As such, the City adopted the Downtown TIF District No. 2 in March 2022 with smaller boundaries and a more modernized plan for redevelopment.
The current Downtown TIF District now encompasses 120 parcels that covers approximately 43 acres of improved land generally bounded by City Hall to the east, Main Street and Union Pacific Railroad to the south, High Street, Washington Street and McConnell Avenue to the north and Aurora Street to the west. To learn more about the plans for redeveloping the downtown, see the following plans:
Route 59 and Route 64 (Oliver Square) TIF District
The Route 59 and Route 64 TIF District was established in 2004 and encompasses the approximately 30 acre Oliver Square Shopping Center. (This area is now known as the Mosaic Crossing Shopping Center.) The project area was originally the site of a K-Mart and Dominick’s, both of which had closed by the time the TIF District was enacted. The efforts of the TIF Redevelopment Plan seek to improve infrastructure to support the development of vacant or underutilized parcels and provide for the improvement and/or rehabilitation of existing structures.
The TIF District is generally bordered by Illinois Prairie Path, vacant land and single-family homes to the north, IL Route 64 to the south, IL Route 59 to the west, and the Illinois Prairie Pat, vacant land and single-family homes to the east. To learn more about the plan for redeveloping this area, click the link below.
Roosevelt Road/Fabyan Parkway TIF District
The Roosevelt Road/Fabyan Parkway TIF District was established in 2017 that is generally bounded by Roosevelt Road (IL-38) on the north, the Burlington Northern Santa Fe Railroad on the south and east, and the west property lines of potential development sites generally fronting Fabyan Parkway and Roosevelt Road. The Roosevelt/Fabyan TIF District contains 22 parcels and encompasses approximately 160 acres in area. The TIF Redevelopment Plan outlines the goal of encouraging private development and investment through public infrastructure investments necessary to support private investment in this area. To learn more about the plan for redeveloping this area, view the links below.