Geneva District 304 wants cash, not land, from LaFox developers
Geneva Unit District 304 officials want $6.12 million in cash instead of a land donation when Campton Hills annexes the 962-acre LaFox development.
Shodeen Group of Geneva is proposing 900 homes, 700 of them single-family, and 440 acres of open space on the property.
In June, school district officials noted the draft annexation agreement stated the developer did not have to pay anything to the school district, even though the residential portion is all in District 304. That has changed now, officials said.
“The village of Campton Hills does have a land-cash ordinance in place,” District 304 Superintendent Andrew Barrett said at a July 14 school board meeting. “That has kind of been the foundation of some of our conversations. … We’re closing in on a potential agreement … (of) $6,800 per residence in the development, paid to the district at the time of permit.”
The district also wants to be paid just over $19,000 per student, which is its per-pupil expenditure.
As the development’s timeline is 15 to 20 years, the per-pupil payments would be adjusted to the annual consumer price index, Barrett said.
“A lot of conversation and effort has gone on to get us to this point,” he added. “We remain eager and hopeful for resolution.”
Barrett said village officials are considering the creation of a tax increment finance district, or TIF, for the development to help pay for infrastructure of water utilities.
A TIF is a development incentive local governments use to encourage building in areas that are thought to be too expensive to improve with private investment alone. A TIF, which lasts 23 years, freezes property values and diverts increased tax revenue from redevelopment to the TIF for specific improvements, rather than to local taxing bodies.
“If they go in this direction … of the TIF, what we would argue for is an actual hard count of students generated,” Barrett said. “So in the first year, if there’s 15 students that come to (District 304) — TIF or no TIF — we would get our per-pupil expenditure for that year for each of those 15 kids.”
“I don’t want an annexation agreement to go forward to the village of Campton Hills without us being able to put our stamp on it,” he added.
David Patzelt, president of Shodeen Group, said the school district’s financial requirements are acceptable.
Campton Hills Village President Barbara Wojnicki confirmed the board is considering a TIF district. The public hearing for annexation is scheduled for 7 p.m. Monday, Aug. 18.
“This is probably the biggest thing that’s ever happened to village of Campton Hills since its inception,” Wojnicki said. “It’s going to be an interesting development.”