Downtown TIF District

The Village has established a TIF district for a portion of the Village’s downtown business district and Village Center. The Downtown TIF district is generally located between Hazel Avenue to the north and Deerfield Road to the south, and between Chestnut Street to the west and Rosemary Terrace to the east (“Target Area”). The Village does not anticipate that this Target Area will receive significant private investment leading to long-term growth without the creation of a TIF District.

The Village approved Tax Increment Financing Redevelopment Plan, pursuant to the TIF Act, will enable the Target Area to overcome a number of redevelopment barriers. Ryan LLC (previously Kane McKenna and Associates, Inc) was retained by the Village to assist in drafting the Redevelopment Plan. The Village authorized Ryan to study the Target Area to determine whether it qualifies for consideration as a “redevelopment project area”. The proposed TIF district was found to have various qualification factors that would enable the Village to designate the Target Area as a “conservation area”, as defined in the TIF Act. Additional qualifying factors in the Target Area include stagnant or declining EAV, obsolescence, deterioration of building and site improvements, deleterious layout, excessive vacancies, inadequate utilities, and lack of community planning.

For more information, contact Village Manager Kent Street at kstreet@deerfield.il.us or 847.719.7401.