Registry planned for Vernon Hills TIF districts

Vernon Hills officials are establishing a registry for those interested in learning about tax increment financing districts in the village.

The registry will allow residents and organizations to receive notices and documents relating to the establishment of new TIF districts, such as the one envisioned for the Hawthorn Mall property, as well as the two established districts created for the Vernon Hills Town Center and Mellody Farm developments.

Anyone on the lists for those districts will be automatically entered on the new registry. The village plans to post information at https://www.vernonhills.org/.

A TIF district is an economic development incentive in which property tax payments to local governments are frozen for 23 years. Any additional tax revenue created by growth within the district is placed in a special fund to pay for improvements in the district.