Elmhurst residents will have a chance to be heard Monday, Aug. 6, at a public hearing on the proposed North York Road tax increment financing district.
Elmhurst City Council will hear the public's opinion on this potential fourth TIF district in town at its regularly scheduled meeting at 7:30 p.m. at 209 N. York St. The city says the TIF is needed to spur development on the north end of town, but representatives of School District 205 and the Elmhurst Park District with regard to how it will affect their tax revenue.
The proposed TIF would begin at the on the south and continue to Grand Avenue on the north, and include the new at York and Industrial Drive, as well as the old Steven's Steakhouse property and other vacant businesses.
TIF districts freeze assessed property values for local taxing bodies for up to 23 years to encourage redevelopment in areas considered blighted. TIFs generate new revenue through new construction in the TIF district, or if the township assessor increases the assessed value of the properties in the TIF district. The difference between the frozen property value and any new assessment or growth goes into a TIF fund. The city then uses this money to pay for any public improvements or to help finance redevelopment projects in the district.
The Hahn Street development is currently part of TIF 1, and the city is which will freeze tax revenue for local taxing bodies for an additional 23 years. Two additional TIF district also are under consideration, at . Approval of all those under consideration would bring the total number of TIF districts in Elmhurst to six.
Also on the City Council Agenda
Aldermen will recognize the fire department's Fill the Boot program and this year's Ruth Strand Poster Contest winners.
ComEd will then present a storm preparedness update, which will be followed by public comment. Members of the public are invited to speak for up to three minutes on any topic.
In addition to approval of minutes and accounts payable, the consent agenda includes the following topics:
- Reappointment to Elmhurst Economic Development Commission of Kurt Warnke and Steven Moskal
- Mary Queen of Heaven 5-k event Oct. 20 (This item will be referred to the Public Affairs and Safety Committee for review.)
- Development of a formal TIF incentive application process, as requested by aldermen Michael Bram, Diane Gutenkauf and Paula Pezza (This item will be referred to the Finance, Council Affairs and Administrative Services Committee for review.)
- Approval of a bid for $151,414 from J. Gill & Co., the lowest of six bidders, for the Schiller/Palmer parking structure maintenance repairs
- Approval of a bid for $164,750 from Apollo Trenchless Inc., the lowest of four bidders, for the atrium force main replacement project
- Approval of a liquor license request for , 555 S. York St.
- Approval of Elmhurst College Taste of Elmhurst event Aug. 30 for college students
- Approval of Immaculate Conception's Block Party Aug. 25
- Approval of an ordinance amending the city code with regard to film production. The proposed ordinance states: "No person shall engage in, participate in or initiate any film, still, and/or video, production activities anywhere in the City, including the interior or exterior of public or private property, without having obtained a film production permit from the City in accordance with the procedures established in this Article. … Category 'A' permits shall apply to multiple-day filming. Category 'B' permits shall apply to single-day filming."
- Approval of an ordinance removing one Class RSB liquor license as a result of Mimmo's Pizzeria choosing not to renew its license for 2012-13
- Approval of resolutions authorizing work on the Schiller/Palmer parking structure and the atrium force main replacement, as described above
Following the consent agenda, aldermen will hear any updates from elected officials.
They will then vote on placing a referendum on the Nov. 6 ballot asking voters whether an elected officials should be The issue has since Mayor Pete DiCianni announced last year that if elected to the DuPage County Board, he would retain his position as mayor. An attorney hired by the city recommended the issue be put to voters.
Let's not be short sighted. Tiff 4 is a blighted area, and in this current economy MUST pass.
Kane McKenna's "projected" numbers are pure nonsense. The assumptions (outdated) they used are so flawed its laughable. TIF districts today will never see the light of day with respect Kanes' projected performance over 23 years. If business did not come to north York Road in really great economic times, why in the world would they come in the worst of economic times? TIF (1) is actually losing hundreds of thousands of taxpayer dollars monthly. Land costs, lost sales tax revenues, lost property tax revenues. It's a shell game. Dominicks and Jewel are struggling. Will a third player really help Elmhurst? Always follow the money. Attorney's, consultants, contracts, bond underwriters, developers, etc. The taxpayers outside the TIF districts make up the difference in higher taxes had the TIF not been in place. Plus the "market" is the indicator of economic develoment coupled with demographics and location. Mariano's is a perfect example of a market based decision. They were coming to Elmhurst way in advance of any TIF in place. It would take over 15 plus years to break even to pay back the $1.25M not including; time value of money, legal fees, consultants, interest and all other costs that the taxpayer will ger stuck with. Question....What happens if Mariano's fails in say 3 years? Did the City do their own market or revenue projection analysis? Can the City get their money back?
Why has D205 essentially kept quiet during the process? How would you like to live or own a business along north York Road knowing the City masterminds have designated the properties "blighted" One property even has a DiCianni Realtor sign posted. Yea, please help me buy "blighted' property!
Collins and crew have been quiet as church mouses. Au contraire, Collins should offer up an alternative to TIF 4 proposed. For example, carve out the Ford dealership property now so D205 could benefit NOW when $$ is needed. Also, carve out other properties in other TIF's NOW to benefit NOW. At least go down swinging! Our kids education is at stake here. BTW...I'm told the City council has the power to shut down any TIF at any time by ordinance.
If the incremental tax increases can be used to finance a high end grocery store, luxury apartments, and a boutique hotel than it certainly could have financed the rebuilding of Lincoln school. If these TIF districts go forward than future calls for school referendums won't be to rebuild schools but to be to replace the tax dollars that went to fund private development. Our homes are already overtaxed and the end result of the TIFs will result in higher taxes on the properties that aren't included in the TIFs. Think of it this way the taxing bodies will still need to increase their revenues year to year but now there will be a smaller number of properties they can turn to get the increases. It is just stunning if it is true that 75% of the commercial property will now be off limits for 23 years to help fund the incremental cost increases of the school district and other taxing bodies. How does this compare to any other city in DuPage County? What is the rationale behind giving property owners that did not maintain and update their property a chunk of cash as a reward while the rest of us that maintained our property are punished with higher taxes? TIFs are nothing but an expansion on property taxes.