Route 30 TIF Ordinance OKed, Public Hearing Set In Plainfield

PLAINFIELD, IL — Plainfield village trustees on Monday unanimously approved an ordinance proposing the designation of Route 30 as a tax increment financing (TIF) district, as well as convening a joint review board with other affected taxing bodies and scheduling a public hearing for Oct. 1 in Plainfield. The TIF would fund redevelopment along Route 30.

Earlier this year, the village authorized Chicago real estate consulting firm SB Friedman to conduct an eligibility study and prepare a redevelopment plan for the Route 30/Lincoln Highway corridor, from Renwick Road to Route 55. In 2015, the village authorized SB Friedman to conduct a preliminary eligibility study, approving a cost of up to $40,500, of which $23,818 was spent. In May, village officials approved a change order of $3,610 to allow SB Friedman to continue and finalize the study.

The area in question contains 27 tax parcels, 11 of which are currently vacant, according to village documents. That includes 24 buildings and about 210 acres of land, 154 acres of which are vacant. (For more information on this and other neighborhood stories, subscribe to Patch to receive daily newsletters and breaking news alerts.)

Monday night's vote means a joint review board — including a representative from each affected community college district, elementary and high school district, park district, library district fire protection district and more — will meet to discuss the proposed TIF at 2 p.m. Friday, Aug. 24, at village hall, 24401 W. Lockport St. A public hearing on the proposal will be at the village board meeting set for 7 p.m. Monday, Oct. 1, also at village hall.

Plainfield Economic Development Director told trustee Ed O'Rourke that all affected taxing bodies are aware of the proposal.

The village has been eyeing a possible Route 30 TIF district since at least 2014.

TIF districts can be used as tools to self-finance redevelopment programs. By creating a TIF district, municipalities can essentially borrow against projected future tax revenues in the area, using the money to pay for everything from roads and sewers to beautification projects and incentives to encourage new businesses to move into the area.

Photo of Plainfield Village Hall via Google Maps Streetview