Save Buffalo Grove holding TIF meeting
Save Buffalo Grove, a grass-roots group of residents concerned about the proposed downtown Buffalo Grove development, will host an informational community meeting from 7:30 to 9:30 p.m. Thursday, July 18, at the Village Tavern and Grille, 48 Raupp Blvd., Buffalo Grove.
Brian Costin, of the Illinois Policy Institute, will present "Tax Increment Financing (TIF) for Downtown Buffalo Grove — Developer's Dream or Taxpayer's Nightmare." The program comes in response to the proposal for the creation of a new TIF district as a way to help fund a proposed 65-acre "downtown" development featuring residential, retail, office and entertainment components.
Costin will discuss what TIF districts are and how they can affect taxpayers; outline the legal steps involved in creating a TIF district in Illinois and how residents can participate in the process to influence the outcome; present information on Illinois TIF statutes that require TIFs to be used for areas with "blight factors," and the restrictions of TIFs on public lands occupied by golf courses; and explore the numerous legal concerns surrounding the TIF district proposal for a downtown Buffalo Grove development.
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