Search | Site Map | Village Code Online | Employment | Contact Us | Employee Intranet
 
 
 
 
 
 
 
 
 
 
 
 
  Survey Corner
  Upcoming Meetings
  Calendar of Events
  Quick Links

Tax Increment Financing Districts


What is Tax Increment Financing?
Tax Increment Financing (TIF) is a tool provided to local governments to assist them in stimulating investment in areas which have difficulty attracting development or redevelopment or jumpstarting economically sluggish parts of the community. With this tool, local governments can make improvements to areas in need and provide incentives to attract businesses or help existing businesses expand without tapping into general funds or raising taxes. {The State of Illinois has over 1000 active TIF Districts, but by comparison the State of Minnesota has over 4200 TIF districts.}  For more FAQs on TIF, please click HERE.

Interested Parties Registry:
As part of the TIF process, the Village Board adopted an Ordinance authorizing the establishment of a tax increment financing interested parties registry and adopting the registration rules for the registry.  Click here to view the Ordinance. This ordinance provides an opportunity for those interested individuals who are not located within the TIF District to register with the Village to receive information and documents on the TIF district.  Interested individuals may either complete the TIF Interested Parties Registration Form online or mail this form to the Village Clerk at the following address:

TIF Interested Parties Registry
Village Clerk's Office
535 Duane Street
Glen Ellyn, Illinois 60137

PROPOSED ROOSEVELT ROAD TIF DISTRICT
Background:
In late 2012, the Village identified a portion of Roosevelt Road that may benefit from the creation of a Tax Increment Financing District (see general location below). This portion of Roosevelt Road has generally struggled with a lack of private development over the years, creating a variety of deficiences with business and structural investment. The creation of a TIF District may assist in remedying these deficiences with public/private partnerships, and will also assist the Village in continuing its proactive economic development efforts.

Please find on this page information and documents related to the TIF District, as well as an Interested Parties Registry. Should you have any questions regarding the TIF District, please contact Kristen Schrader, Assistant to the Village Manager, at 630-469-5000.
General Location of the TIF:
The proposed district is generally bounded by those commercial and multifamily residential properties fronting the north side of Roosevelt Road located between Main Street to the east and Park Boulevard to the west along with those commercial properties between Park Boulevard and Route 53 generally situated between Roosevelt Road and Taft Avenues.
TIF Information Presented to the Village Board:
CENTRAL BUSINESS DISTRICT TIF DISTRICT

Background:
The Downtown Strategic Plan (DSP), adopted in October 2009, creates a vision for the future of downtown Glen Ellyn. The DSP recommends an implementation plan, as well as a variety of funding sources, in order to fulfill this vision. One critical funding source recommended for consideration was the designation of the Central Business District as a Tax Increment Financing (TIF) district. Based upon this recommendation, the Village contracted with Ehlers & Associates to complete a feasibility study. The study concluded that the Central Business District is eligible to be designated as a TIF District. 

Over the course of 10 months, the Village worked with Ehlers and Associates to draft the required documents and hold public meetings. On January 9, 2012, the Village Board held a public hearing to solicit feedback on the proposed TIF District from Glen Ellyn residents. On February 13, 2012, the TIF District was formally approved by the Village Board by a vote of 5-0.

Please find on this page information and documents related to the TIF District, as well as an Interested Parties Registry. Should you have any questions regarding the TIF District, please contact Kristen Schrader, Assistant to the Village Manager, at 630-469-5000.

General Location of TIF:
The boundaries of the Redevelopment Project Area is generally described as follows: The area north of Hillside Avenue, west of Park Boulevard, south of Anthony Street, and generally east of Newton Avenue.  For a map of the district, please click HERE.
Official TIF Reports, Filed October 12, 2011
These official documents were filed with the Office of the Village Clerk on Wednesday, October 12, 2011, per the TIF Statute.  Should you wish to review these documents in person, they are available at the Glen Ellyn Civic Center in the Village Clerk's Office, 535 Duane Street, Glen Ellyn.
TIF Information Presented to Village Board:
Other TIF Documents:
Joint Review Board Agendas and Minutes:
Agendas:
Minutes:
 
Village of Glen Ellyn
Glen Ellyn Civic Center
Monday-Friday
8:00am to 4:30pm
Phone: 630-469-5000
Fax: 630-469-8849
Email the Village
 

The Village of Glen Ellyn   535 Duane Street, Glen Ellyn IL 60137  (630) 469-5000