News Flash Home
The original item was published from 5/31/2013 11:47:24 AM to 5/2/2014 12:05:01 AM.

News Flash

General Press Releases

Posted on: May 31, 2013

[ARCHIVED] Agreement Reached Concerning TIF District

The following press release issued jointly by the Village of Westmont and Community Unit School District 201 on May 31, 2013.

It is with great pride that the Village of Westmont and Community Unit School District 201 announce that they have reached an agreement on the Central Business District TIF District. The Intergovernmental Agreement allows both parties to move forward with an arrangement that is mutually beneficial.

“This is a win-win situation for Westmont. The leadership of the Village and the School worked hard and came up with a solution that improves the business district while also helping fund much-needed improvements at the schools. As a resident, a business patron, a parent and a taxpayer, I'm happy to see that this agreement will help us all move forward together in the decades ahead,” says Marie Charlton, CUSD 201 Board President.

The Agreement provides the School District with payments which will offset the loss of property tax revenue as a result of the TIF. District 201 will receive $15 million for capital improvements for Manning Elementary School, which is located in the TIF District. “Manning is one of our oldest buildings and needs many updates, with a specific focus on safety issues for our students,” states Charlton. The Agreement also gives District 201 a share of the sales tax from new businesses that move into Westmont as a result of the TIF District. Charlton states, “We are happy to receive this sales tax money, as it can be used for operational expenses at all the schools which will help us to continue the unique programming that we offer.”

“This process has been a great example of how all facets of community can work together to achieve a great outcome,” says Mayor Ron Gunter. “In the long run, everyone will benefit from this TIF district in the downtown.”

Tax Increment Financing (TIF) is a unique economic development tool that the State has designed to help municipalities address areas of distress. With the reduction in federal and state funding, TIFs provide an economic incentive mechanism where a municipality can provide financial assistance in the effort to revitalize specific areas of the community.

There will be a Public Hearing about the TIF District on Monday, June 3 at 7:00pm at the Village Hall, 31 W. Quincy Street, second floor.


Contact: Larry McIntyre
Village of Westmont Media Relations Coordinator

Facebook Twitter Email

Other News in General Press Releases

Mental Health Awareness For The Holidays

Posted on: December 5, 2023

Keeping Pets Safe in Cold Weather

Posted on: December 5, 2023

2024 Westmont Downtown Incentive Program

Posted on: November 9, 2023

Winter Window Mural Program

Posted on: November 8, 2023

Village Offices Holiday Schedule

Posted on: November 13, 2023

DuPage County 211 Services

Posted on: November 22, 2023

Severe Weather Warming Centers

Posted on: November 29, 2023

New Village Drop Box Location

Posted on: October 13, 2023

Holiday Tree Pickup Jan. 2-12

Posted on: November 20, 2023

Chicago Union Station Seeks Feedback

Posted on: November 21, 2023

WESTMONT 311 - Report A Concern

Posted on: November 6, 2023

Working Smoke Alarms Save Lives

Posted on: October 18, 2023

2023 Used Vegetable Cooking Oil Recycling

Posted on: November 16, 2023

Westmont Police Host Winter Coat Drive

Posted on: October 10, 2023

Westmont Construction Project Updates

Posted on: October 13, 2023

Village Zoning Ordinance Review & Update

Posted on: September 28, 2023

Local Eagle Scout Campaign

Posted on: October 23, 2023

DuPage County Energy Assistance Program

Posted on: September 26, 2023

Drug Take Back Program A Big Success

Posted on: October 31, 2023

Police Dept. Service Awards

Posted on: October 23, 2023

October Proclaimed Arts DuPage Month

Posted on: October 6, 2023

2023 Wicked West Fest Events

Posted on: August 17, 2023

2023 Silent Parade Oct. 13

Posted on: August 18, 2023

Village Offices Closed Oct. 9

Posted on: September 7, 2023

Endless Summer Car Shows Return

Posted on: August 16, 2023

Back To School Safety

Posted on: August 7, 2023

Halloween Trick-or-Treating in Westmont

Posted on: October 11, 2023

Village Offices Closed Sept. 4

Posted on: July 28, 2023

Excessive Heat Warning August 22-24

Posted on: August 22, 2023

Back to School Resource Fair Aug. 12

Posted on: August 8, 2023

DuPage County Seeks Feedback

Posted on: July 27, 2023

West Nile Virus Update for DuPage

Posted on: July 17, 2023

Do Not Hesitate - Call 9-1-1

Posted on: June 21, 2023

Westmont Fire Department Promotions

Posted on: July 14, 2023

Village Construction Updates

Posted on: June 16, 2023

2022 Water Quality Report

Posted on: June 23, 2023

2023 Taste of Westmont

Posted on: June 2, 2023

BNSF Tracks Closed at Cass July 8

Posted on: June 7, 2023

Water and Garbage Rate Update

Posted on: April 21, 2023

Fire Department Promotions

Posted on: June 8, 2023

Westmont Compost Program

Posted on: April 11, 2023

West Quincy Streetscape Project

Posted on: April 19, 2023

Trustees Sworn Into Office

Posted on: May 5, 2023

988 Suicide & Crisis Lifeline

Posted on: April 6, 2023

2023-2024 Village Budget Presentation

Posted on: April 14, 2023

Fire Department Safety Update

Posted on: April 4, 2023

Call 811 JULIE Before You Dig

Posted on: March 23, 2023

Chief Riley Recognizes Fire Personnel

Posted on: March 10, 2023

METRA Launches

Posted on: January 18, 2023