PRESS RELEASE
Date Issued: December 21, 2012
The Village of Westmont has rescheduled the public hearing pertaining to the South Westmont Business District (SWBD) Tax Increment Financing (TIF) District for Monday, February 4, 7 p.m. at Village Hall, 31 W. Quincy. This public hearing will take place during the regular Village Board meeting.
Tax Increment Financing (TIF) is one of the few tools a municipality has to actively address areas of distress. With the reduction in federal and state funding, TIF districts can provide an economic incentive to catalyze development activity and strengthen commercial corridors. TIF districts provide the opportunity to make infrastructure and other investments in distressed areas, and is intended to reverse decline and encourage redevelopment.
The South Westmont Business District (SWBD), which generally encompasses the properties near the intersection of 63rd Street and Cass Avenue, has been targeted as an area that would benefit from economic and commercial revitalization.
For more information regarding this meeting and topic, contact Acting Community Development Director Shannon Malik at smalik@westmont.il.gov or call 630-981-6264.
Contact: Larry McIntyre,
Village of Westmont Media Relations
630-417-0280, lmcintyre@westmont.il.gov
