The TIF will be used to meet the goals of and finance the Village’s Town Center redevelopment plan, which are to attract new restaurants and retail businesses, create new public amenities and beautification projects, and permanently generate additional revenue for the Village, schools, parks, library, Fire Protection District and other taxing bodies. The plan also allows for the construction of a new Village police department and municipal center, which will open up the current Village Hall site for redevelopment on a prime location right next to the Metra station.
Ground has already broken on a new office building across from the Village Hall, which will host retail and restaurants on its first floor and serve as an anchor for further mixed-use development on surrounding blocks.
Along with new businesses catering to residents and visitors, public developments will include a public plaza on part of the land currently occupied by the Village Hall, new streetscaping, outdoor furniture, plantings, sidewalks and other amenities.