facebooktwitterbadge logo 1 t670twitterpolicehat1

New Downtown TIF

 The TIF District  This area is called the Main Street/University Avenue TIF District.  The plan and project area is discussed in the TIF Redevelopment Plan and Project.  The TIF  Redevelopment Plan and Project is the proposed Main Street/University Avenue Development Project Area (TIF District).   The TIF District is a contiguous area generally described as parcels along Brown Boulevard, Main Street, and Marsile Street.  It is approximately one hundred fifty-nine (159) acres in size excluding rights-of-way.  It includes approximately two hundred twenty-seven (227) tax parcels, which are shown in the boundary map.  It consists of approximately one hundred eight-two (182) structures; primarily commercial, industrial, and retail uses and some residential units.  At least seventy-four percent (74%) of the structures are thirty-five (35) years of age or older. 

Village’s Objectives  The Village’s objectives and goals to encourage the TIF District are as follows:mainst

1. By implementing the TIF Redevelopment Plan and Project provides for the retention and expansion of existing businesses, and the attraction of users to redevelop existing retail, mixed use, and commercial structures, as well as vacant parcels;

2. By constructing public improvements (if necessary) street and sidewalk improvements (including new street construction and widening of current streets); utility improvements (including but not limited to water, storm water, management, flood control and sanitary sewer projects consisting of construction and rehabilitation); signalization, traffic control, and lightening; off-street parking (if applicable); landscaping, public signage, and beautification; and public facilities;

3. By entering into redevelopment agreements with developers for qualified redevelopment projects as defined in the TIF Qualification Report Main Street/University Avenue TIF District;

4. By providing for land assembly, site preparation, environmental remediation (if necessary), clearance, and demolition, including grading and excavation;

5. By the redevelopment of certain buildings through necessary rehabilitation and improvement of structures;

6. By exploring and reviewing job training programs in coordination with any Village, Federal, State, and County programs; and

7. By entering into agreement with other public bodies for the development or construction of public facilities and infrastructure.

Village Ordinances  On July 20, 2015, the Village Board of Trustees passed and adopted three (3) ordinances regarding the TIF District, they are as follows:

  1. Ordinance No. 15-1992 – An Ordinance Approving a Tax Increment Redevelopment Plan and Redevelopment Project for the Main Street/University Avenue Redevelopment Project Area;

  2. Ordinance No. 15-1993 – An Ordinance Designating the Main Street/University Avenue Redevelopment Project Area of Said Village A Redevelopment Project Area Pursuant to the Tax Increment Allocation Redevelopment; and

  3. Ordinance No. 15-1994 – An Ordinance Adopting Tax Increment Allocation Financing for the Main Street/University Avenue Redevelopment Project Area.

    If you would like to obtain more information regarding the TIF District as it develops, please print out and complete the Interested Parties Registration Form.  Upon completion, please return it to the Village of Bourbonnais, Administration Office located at 600 Main N.W., Bourbonnais.

    What is TIF?

    What will the TIF do to help the Community?