Glenview Park District Prepares for Early Conclusion of TIF
The Village of Glenview Board of Trustees indicated they plan to conclude the Glen TIF in 2021, a year earlier than planned, at a budget workshop on Thursday at Village Hall. Click here to learn more about what the TIF is.
The park district will capture the new growth of The Glen within the 2021 tax levy, which is payable in 2022. The conclusion of the TIF will not result in any tax increase for property owners inside or outside The Glen. Due to these changes, the park district will be reviewing the estimated 2021 tax levy, which did not include this new growth, and provide an update at the November Park Board meeting. A truth in taxation hearing will be held prior to the approval of the final levy at the December Park Board meeting.
During the life of the TIF, the Village of Glenview provided “make whole payments” to the park district to support the additional costs of providing services within the Glen, including maintenance and services at Park Center, Gallery Park, Fuller Air Station Prairie and the Glenview Prairie Club.
“We are so thankful to the Village of Glenview for their outstanding stewardship of the TIF district, and of their commitment to ensuring all of our governmental partners were reimbursed for the costs associated with services in The Glen. The development of the old naval air station base and our community resources that have been built there will be utilized and celebrated for generations,” said Executive Director Michael McCarty.
Capturing the new growth associated with the TIF will result in a slight increase of overall tax revenue for the park district. These additional funds will be needed for the continued maintenance of Gallery Park and Fuller Air Station Prairie and will assist the district in assessing required and future enhancements to the amenities of Gallery Park.