W. Dundee residents weigh in on establishing tax district

Residents had their first chance Monday to address the West Dundee village board about a tax incentive the board is weighing as a way to shore up the Spring Hill Fashion Corner.

The village wants to use the incentive to revamp the site in hopes of drawing a more successful mix of tenants to the plaza, which has been plagued by vacancies.

One resident asked why the incentive would also target viable nearby businesses like Walgreens and Pizza Hut.

"Why are properties included that are evidently in good shape and probably wouldn't be changed?" John Longhini said. "If they are included, why not just practically (include) the whole village?"

Officials responded that the businesses were included so the village could address traffic flow issues within the area and at routes 31 and 72.

"Is Walgreens eligible on its own merits? No. As part of the larger area, is it eligible? Yes," said Ken Busse, an economic consultant.

Other residents said the village needs to do something to make the Fashion Corner more competitive with Randall Road and asked how the incentive would affect their property values.

Officials have said the tax incentive would help the area compete with Randall Road. They said Monday that if they are successful in revitalizing the area, residents' property values will rise.

The proposed tax increment financing district would freeze property taxes shared among taxing bodies at current levels. As property values rise in the district, the additional revenue generated would go toward redeveloping the Fashion Corner.

Oak Brook-based Accretion bought the Fashion Corner during the past year for more than $16 million. Accretion would cover about half the cost of the $10 million rehab; the TIF district would cover the rest of the bill.

The proposed district would also include 10 surrounding businesses and the intersection of routes 31 and 72.

The village board can vote on whether to establish the taxing district Sept. 10 at the earliest. It has three months to bring the issue to a vote.