Glenview Village Board Set To End Glen TIF Early

Glenview IL

01 November, 2021

3:15 PM

Description

GLENVIEW, IL — Following a budget workshop last week, the Village of Glenview Board announced it plans to conclude the Glen TIF in 2021, a year earlier than planned. The Gleview Park District will capture the new growth of The Glen within the 2021 tax levy, which is payable in 2022, according to a news release. The conclusion of the TIF will not result in any tax increase for property owners inside or outside The Glen, officials say. Due to these changes, the park district will be reviewing the estimated 2021 tax levy, which did not include this new growth, and provide an update at the November Park Board meeting. A truth in taxation hearing will be held prior to the approval of the final levy at the December Park Board meeting. During the life of the TIF, the Village of Glenview provided "make whole payments" to the park district to support the additional costs of providing services within the Glen, including maintenance and services at Park Center, Gallery Park, Fuller Air Station Prairie and the Glenview Prairie Club. "We are so thankful to the Village of Glenview for their outstanding stewardship of the TIF district, and of their commitment to ensuring all of our governmental partners were reimbursed for the costs associated with services in The Glen. The development of the old naval air station base and our community resources that have been built there will be utilized and celebrated for generations,"Executive Director Michael McCarty said in a statement. Capturing the new growth associated with the TIF will result in a slight increase of overall tax revenue for the park district, according to the news release. These additional funds will be needed for the continued maintenance of Gallery Park and Fuller Air Station Prairie and will assist the district in assessing required and future enhancements to the amenities of Gallery Park. Stay Patched In! Get Patch real-time email alerts for the latest Glenview newsCheck out the Events Calendar for what's going on in GlenviewLike the Glenview Patch on FacebookPatch Mobile: Get app for iPhone and Android