Bensenville wants to buy houses

Bensenville leaders are looking to buy up to 80 homes as part of plans to extend the term of the village's tax increment financing district.

Village Manager Jim Johnson said adding time to the current TIF district and having it expire in December 2010 instead of July 2009 would give the village additional funds to rebrand the community, protect property values and reduce the impact of the O'Hare International Airport expansion plan.

In a TIF, property tax payments to local governments are frozen and extra tax revenue collected as property values rise are steered back into development of the properties.

The plan would consist of the village purchasing up to 80 houses from York Road to Marion Court and Green to Wood streets. Officials have no plans to rezone any properties or use condemnation or eminent domain powers.

Officials discussed redevelopment plans Monday night with several residents and community members.

"We are going to begin to acquire property, start buying people's property along these areas to protect their values and make sure they get a reasonable price for their properties," Johnson said. "However, it will be strictly a voluntary program, and if individuals who live in the area choose not to participate, we will not force condemnation."

The village plans to start making offers after the first of the year.

"As soon as we approve the program, we'd like to start purchasing properties immediately," Johnson said.

It also would let Bensenville work with affected property owners to facilitate future land use and development.

"We feel that there's a great sense of urgency to move forward with the planning process and have something in place," he said. "If all goes forward as planned, we hope to have the extra TIF in place by January."

The village doesn't plan to sell bonds, and officials said financial obligations would be paid at the completion of the TIF.

Officials have selected Hitchcock Design Group and Business Districts Inc. as the consultants to perform the study.

Village President John Geils' business is in the TIF district, but Johnson said Geils would recluse himself from any deliberations.

"He will not be making any decisions on this," Johnson said, "and he will not be voting on this."

Extension: Village would start acquiring houses in January