Wheeling finalizes new TIF district

The Wheeling village board on Tuesday officially added the village's fifth tax increment financing district and expanded the one that led to the creation of the Westin hotel.

The fifth special tax district has spurred a number of questions from other taxing bodies in the village and some residents affected by the move.

Two weeks ago, residents of Wolf Run Estates expressed their concerns that the district would mean they would be pushed out of their homes in favor of a large development project.

However, trustees have said Tuesday that is not their intent. The new district includes an industrial area and the Wheeling portion of the Chicago Executive Airport. Village officials have said funds from the district would be used for infrastructure and ongoing projects at the airport.

On Tuesday, representatives from several taxing bodies also reiterated their concerns of the district since money that would normally be going to school, park and library districts would be deferred back into district projects.

Under a tax increment financing district, tax money generated by increasing property values goes to play off costs associated with improving that property.

Don Roalkvam, Indian Trails Library District board president, said he'd like to see the board create an ordinance where more money would be going back to the taxing districts. The board had already agreed to give back money from the River Mill condominiums portion of the new district.

Roalkvam said he wants to ensure that "we will continue to share this revenue going forward through the life of the TIF."

Rich Rosen, a member of the Wheeling Township Elementary District 21 board but who said he was speaking as a private citizen, said he also worried about the lives of such districts, which are typically 23 years.

"Twenty-three years for a TIF is a long time," he said.

He said that while he's not against all taxing districts, he does worry about the adverse affects they have when excess money isn't distributed to taxing bodies.

Trustee Dean Argiris said he wanted to act on Roalkvam's suggestion and create an intergovernmental agreement that would tie future boards to redistributing money from the River Mill project.

The other trustees, with the exception of acting President Pat Horcher, agreed. The village staff will look into an agreement, which will be voted on later.