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Article updated: 7/10/2013 9:22 AM

Buffalo Grove group holds forum on TIF

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By Submitted by Save Buffalo Grove
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Save Buffalo Grove, a group of citizens concerned about the proposed downtown Buffalo Grove development, will host an informational community meeting 7:30 p.m. Thursday, July 18, at Village Tavern and Grille. Brian Costin, a TIF district expert with the Illinois Policy Institute, will present "Tax Increment Financing (TIF) for Downtown Buffalo Grove -- Developer's Dream or Taxpayer's Nightmare." This program comes in response to a developer's proposal for the creation of a new TIF district as a way to fund his downtown plan. Costin will discuss what TIF districts are, how they can affect taxpayers, the legal steps involved in creating a TIF district in Illinois and how citizens can participate in the process, the requirement that TIF districts be used for areas with "blight factors," and the restrictions of TIF districts on public lands occupied by golf courses. "If this proposal proceeds, it might be the first time in Illinois history that a TIF district has been proposed for non-blighted lands entirely owned by the government," he said. More information is at www.savebuffalogrove.com.

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