Lisle To Discuss TIF District Extension, Family Square Redevelopment In Public Hearing

LISLE, IL — Lisle officials will meet Sept. 21 for a public hearing to discuss the tax increment financing (TIF) district term extension for the downtown redevelopment project area that includes the long-vacant Family Square site.

The site's current 23-year TIF district is set to expire on Dec. 31, 2038. The proposed amendment would extend the TIF term by 12 years, giving it an expiration date of Dec. 31, 2050.

The extension will "assist the Village with the necessary economic incentives that will promote redevelopment" of the Family Square site and the greater TIF district, per village documents.

In addition to the TIF district term extension, lhe public hearing will cover projected redevelopment costs.

In Feb. 2026, the village began to weigh the option of extending the term of the area's tax increment financing (TIF) district.

In 2022, then-Mayor Christopher Pecak vetoed a motion to designate a $10.5 million tax-increment financing (TIF) district for Family Square Plaza. Council members had voted 4 to 2 in favor of the TIF district ahead of Pecak's veto.

The request to extend the TIF district's term was approved by the Illinois General Assembly. The village's joint review board voted Aug. 17 to recommend the term extension and related amendments.

The Family Square site at the intersection of Main Street and Ogden Avenue was formerly home to a Citgo gas station, a nail salon, a gyro restaurant, a liquor store and a laundromat. The three-acre site has since been acquired by Flaherty & Collins Properties.