Lakewood’s Tax Increment Financing (TIF) District is on the agenda of the Woodstock School District Tuesday.
Here’s the posting:
Approval of Resolution Authorizing Lawsuit against the Village of Lakewood Seeking Dissolution of the Illinois Route 47 and Illinois Route 176 TIF District.
The TIF District, approved by the Lakewood Village Board to finance at least the extension of sewer and water to the potential commercial sites at both intersections of Routes 47 and 176, first surfaced when a SportsPlex was proposed.
That proposal seems to have gone by the wayside–before the April Village Board election–but the citizenry didn’t find out until afterward.
In play during that election was a write-in campaign by Paul Serwatka, which was spectacularly successful. He won almost 70% more votes than the highest winner on the ballot.
You can tell by the yard sign the issues that were in play.
Also opposing the TIF district was Susan Handelsman, a resident the Woodstock School District.
She has predicted that
- Lakewood will allow lower cost housing to be built west of Route 47 in the TIF District in order to meet state requirements and
- children will go to Woodstock schools, but the taxes from such housing will go to Lakewood Village officials to spent on TIF District improvements, rather than help finance the students’ education.
“If it goes to trial, it will be a seminal case in Illinois. It’s a great opportunity to define ‘but-for’ and to determine municipal limitations on dumping tax liability onto neighboring communities.”
TIF Districts are not supposed to be created unless development would not result “but for” the creation of the TIF District.
The Woodstock School District did not object to the formation of the TIF District when it had the chance.
The School Board will consider the suit idea at a meeting starting at 7 PM on Tuesday, December 15th at Clay Professional Development Center, 112 Grove Street. The proposal is far down on the agenda.