Village of Homewood

The board reviewed the Northeast TIF Redevelopment Plan and Annual Report, noting that the TIF was established in 2015 and will expire in 2039. Key discussion topics included the cumulative increase in the equalized assessed valuation, a redevelopment agreement with the Wind Creek Chicago Southland casino involving a 95% increment reimbursement for TIF-eligible expenses, and budgeting plans for revenues and expenses.

The Board discussed the East Central Business District TIF, which covers Ridge Road from Gottschalk Avenue to Gladville Avenue. It was noted that the TIF, established in 2011, has experienced continued EAV declines, limiting the ability to grant business incentives or fund public improvements. No business incentives were granted during the fiscal year, and there were no pending reimbursement applications or infrastructure projects planned for the coming year. The report for the fiscal year was accepted.

The board discussed the redevelopment plan and annual report for the Kedzie Gateway TIF, including property acquisitions, sales to developers, and redevelopment agreements. The board also addressed the creation of the 183rd West TIF, changes in Equalized Assessed Valuation, and economic incentive agreements. Financial conditions, including budget and expenditures, were reviewed, along with updates on project accomplishments and background details of the district.

The board conducted a review of the Downtown TOD TIF district redevelopment plan and annual report. The discussion included updates on the district's expiration, progress on various redevelopment agreements for restaurant and retail spaces, and the financial performance of the district including its Equalized Assessed Valuation. The board also selected a public member and accepted the annual report.

The board discussed the redevelopment plan and annual report for the Southgate TIF, which reached its expiration after a 23-year lifecycle. The board addressed the selection of a public member, confirmed that no revenue or expenses were budgeted for the current fiscal year due to the TIF's expiration, and noted that funds will be held until all property tax appeals are finalized.