Will Des Plaines create a TIF district along Oakton Street?

Reopening the downtown Des Plaines Theatre will consume much of the city's focus this year, but another part of the city is starting to get some economic development attention, too.

The city has budgeted $40,000 to study whether a struggling stretch along Oakton Street from River Road to just past Lee Street should be a tax increment financing district.

Though the area has seen some recent development with Butera Fruit Market and Sam's Farmers Market opening over the past year, there are still vacant properties that need help, 6th Ward Alderman Malcolm Chester said. Chester, whose ward borders that section of Oakton Street from the south, said that depending on the results of the feasibility study, he could support creating one.

"We've had difficulty with that area with places closing down, and it really needs some economic stimulus," he said.

In a TIF district, increased tax revenues generated by new development are diverted to a fund used to pay for improvements within the area. Throughout the 23-year life of the TIF district, other taxing bodies such as schools and park districts continue receiving tax revenues equal only to what they received when the TIF was created.

The TIF district study is just one of the city's efforts to revitalize the area included in its strategic plan approved this month. City leaders are also working with Metra to determine whether a train station can be built just east of the intersection of Lee and Oakton streets. The city has budgeted $175,000 to study whether a station at the location is feasible.

A potential train station would add a stop on the North Central service line between Prospect Heights and O'Hare International Airport.

Chester predicted a train station also could stimulate development along the corridor, attracting businesses and boosting property values.

"We would have an upgrade in the valuation of homes because people would have the opportunity to buy a home and walk to the train station," Chester said. "It would stimulate restaurants and coffee shops. It would be a great stimulus."