Antioch is considering developer's tax district request
Developers of a massive industrial park planned for farmland in Antioch say without a special taxing district, the likelihood of the project is in question.
The village board, which had been counting on the 200-acre industrial park to generate tax dollars and 2,000 jobs for the community, is considering the request made this week by Atlanta-based Industrial Developers International.
"As much as I don't like the idea of giving any type of tax incentive, this is a different type of request than we normally see," Antioch Mayor Dorothy Larson said.
IDI is planning an industrial park on Route 173, east of Route 45, that would accommodate 2 million to 2.5 million square feet of office, warehouse and light industrial facilities.
John Benson, IDI vice president of development, said the company was planning to split infrastructure costs with whoever developed the White Tower Farm site.
IDI now finds itself without a partner since the Lake County Forest Preserve District purchased the White Tower Farm land and will not need the infrastructure
"All along we planned on sharing the cost of a water tower and extending the water main," Benson said. "Once that went away we've found ourselves with a gap in the financing."
Benson estimates about $2.5 million will be needed and the special taxing district would end in eight to 12 years, less than half the time of a typical TIF district. In a TIF district, property tax bills paid to villages and schools are frozen, and extra tax money is returned to the developer.
Larson said the village board was receptive Tuesday when hearing IDI's request. The village has asked for more time to study its options.
"This is not a residential development where kids will be added to the school district," Larson said. "It seems like this could be a doable thing that could work for the village and the schools."
While most school districts balk at the suggestion of a TIF district, Antioch-Lake Villa High School District 117 has been receptive to the idea.
District 117 owns land on Route 45, about a quarter mile from the proposed industrial park and will likely build a new high school there in the next decade.
Jay Sabatino, superintendent of District 117, said IDI has said the district could tap into its water mains, saving the district thousands of dollars.
In addition, once the TIF is paid off, the district will receive far more tax revenue than if the land had not been developed.
"At this point, based on what I've seen, I'm not opposed to it at all," Sabatino said. "The benefits to the community and school district far outweigh the downside."
Scott Thompson, superintendent of Antioch Elementary School District 34, is still unsure where he stands on the TIF issue but would like to see the project come to the village.
"I'm always in favor of development that doesn't bring kids and helps with the burden of the tax base," Thompson said.