Panel to meet Monday on proposed Campton Hills TIF district

A special panel is scheduled to meet Monday to discuss a proposed $90 million taxing district for nearly 600 acres of the LaFox of Campton Hills project.

The Campton Hills Joint Review Board meeting on the tax increment finance district for the development is scheduled for 9:30 a.m. at Lord of Life Church, 40W605 Illinois Route 38, Campton Hills.

The Campton Hills village board in September approved the annexation of 962 acres planned for the LaFox of Campton Hills project that calls for 900 homes and 440 acres of open space.

Village officials hired SB Friedman Development Advisors to create an eligibility report on whether the area qualifies for a TIF district. The report determined the site does qualify because it has blighted conditions of flooding and lack of development.

A TIF is a tool local governments use to encourage development or redevelopment in areas that would be too expensive to improve with private investment alone. It freezes the assessed value level of property and diverts increased property tax revenue from local taxing bodies, such as schools, to a village-controlled fund that will be used to pay for public improvements within the district’s boundaries.

A TIF can last up to 23 years, or longer if the legislature approves an extension.

According to the Joint Review Board agenda, representatives will be present from Campton Hills, Kane County, Blackberry Township, Waubonsee Community College, Geneva District 304, Geneva Park District, Geneva Public Library and the Elburn and Countryside Fire Protection District.

The Joint Review Board’s vote on a TIF district is advisory, not binding.

The agenda includes an overview of the board’s duties, of the proposed redevelopment project area and of the eligibility report, as well as public comment, a question-and-answer period for the board and then a vote for a recommendation to the village board.