SOUTH HOLLAND | The Village Board this week hired a firm to study a tax increment financing district along the Bishop Ford Freeway to determine if any changes ought to be made.
Trustees voted 6-0 when they met Tuesday to hire the Chicago firm of Kane, McKenna & Associates to conduct a study of the Gateway East TIF district. It was created in 2007 to bolster economic development in the area around the freeway and 162nd Street.
Village Administrator Jason Huisman said certain parcels of land within the TIF district will be studied to determine if their value has changed significantly since the district was created.
“The economy (in recent years) has had its ups and, mostly, downs,” Huisman said. “We need to figure out if things have changed so much that we need to alter the TIF district somehow.”
The contract approved on Tuesday calls for Kane, McKenna to prepare its study within 120 days. Huisman said village officials expect to receive recommendations in three or four months.
The issue will get further discussion by the Village Board at that point, with possible action to be taken in the summer.
In other business, trustees approved a resolution recommending an extension of the Class 6b property tax break granted by Cook County government to Rupart Food Services, 15600 Wentworth Ave.
Village officials' support is required before the county can address the issue.
The company has had the Class 6b tax break, which reduces the amount of property taxes paid by more than half, since 1994. It was renewed in 2002, and is set to expire this year unless renewed again.
Huisman said village officials were sympathetic toward giving the company a tax break because it employs 230 people and has plans to create 50 more jobs, following an expansion of their facility that will cost the company approximately $500,000.