$900 Million TIF district in Elk Grove Village passed

The Daily Herald reports that Elk Grove Village, IL a suburb of Chicago adjacent to O’Hare International Airport referred to as the largest industrial park in North America with over 100 Million square feet of industrial has passed “a special taxing district that could generate nearly $900 million to help pay for redevelopment projects in a large portion of the village’s sprawling business park.  The village board unanimously passed a measure Tuesday to create a tax increment financing district that will cover more than 900 acres on the east side of the village’s business park, mostly through the Busse Road and Elmhurst Road corridors.The TIF will spark redevelopment in an area of the business park suffering from outdated buildings, declining property values and vacancies, officials say.”  Read More…

ServeAttachment.ashxElk Grove Village passes TIF district for business park – DailyHerald.com