Glen Ellyn Modifies Roosevelt Road TIF District; Parkside, Park Plaza Residents No Longer Included

A proposed Roosevelt Road Tax Increment Financing (TIF) District has been revised after concerns were raised over the possible displacement of residents living in nearby apartment complexes.

The Village of Glen Ellyn said the TIF District’s boundaries were modified and no longer include the Parkside or Park Plaza apartments, according to a news release from Village Manager Mark Franz.

The decision to revise the boundaries was made after a public hearing and multiple meetings with residents, the news release said.

A large portion of the residents who would have been displace were low-income immigrants and/or refugees placed in Parkside by the organization World Relief. Patch reported last month it was feared that if the TIF District moved forward residents might lose their apartments to either rising rents or outright demolition.

The village said from the start of the TIF discussion it has been communicating with representatives from the apartments and though the village felt including those developments in the TIF District made the most sense and would be beneficial to the residents, it took into account the concerns. While the apartments will not be included in the TIF District, if the residents reevaluate their decision and prefer to be included in the boundaries, they will be incorporated back into the TIF District, the village said.

“We want to be responsive and fair in establishing this TIF District, and believe that modifying the TIF boundaries will not negatively impact the proposed district,” Village President Alex Demos said in the news release.

A Joint Review Board was created to evaluate the feasibility and impact of the TIF District. The board’s first meeting was held on July 31.

The TIF District would freeze the amount of property tax paid to local governments for 23 years and redirect all increased property revenue into a fund for renovating the area, either by improving existing infrastructure or incentivizing new development.

The village said it will move forward  with the public review process for remaining portion of the Roosevelt Road TIF District. Glen Ellyn is considering the TIF District because areas of the commercial district have struggled due to a lack of private investment and development over the years, leading to vacancies and long range planning deficiencies.

A TIF District would help resolve the deficiencies through a public/private partnership, the village said.

The Village Board will make its final determination on the TIF District boundaries during a public hearing to be held on Sept. 9. Residents who wish to provide feedback are encouraged to contact the village.