Business Subsidies On Table In Western Springs

WESTERN SPRINGS, IL – Western Springs is considering developing a program to help downtown businesses pay for such things as facade improvements, signage and sidewalk cafés.

For a decade, the village's policy has allowed such expenditures in its downtown tax increment financing districts, or TIFs.

But unlike some towns, no formal program had been established.

With TIFs, the village keeps property tax money that is generated from rising property values. That income can be used to reinvest in the districts. The goals are to promote economic growth and prevent blight.

This year, the village is looking to spend up to $70,000 for business improvements.

Under a village proposal, the village could reimburse a sales tax-generating business up to $10,000 for facade improvements. The business would be required to cover half of the project's costs.

For a non-sales-tax-generating business, the reimbursement could be up to $7,000.

Towns with such formal programs include Batavia, Brookfield, Glen Ellyn, Lombard, Morton Grove and St. Charles, according to a Western Springs memo.

On Tuesday, the village's Finance Committee considered the proposal. The Village Board has the final say.