Route 83 & St. Charles (TIF 3)
The general goals of the redevelopment plan for the IL Route 83/St. Charles Rd. project area were to encourage development of the commercial area through the attraction of commercial users in-line with the City’s zoning codes, to create new jobs, provide suitable public infrastructure, and diversify and strengthen the City’s tax base with particular attention given to bolstering non-residential property taxes. Included in the objectives of the redevelopment plan was the relocation of the City’s Public Works site and facility, formerly located on West Avenue.
Former Mayor, Thomas D. Marcucci championed the relocation of the Public Works facility to Riverside Drive, allowing for new retail facilities to be built along the highly traversed IL Route 83. TIF funding also provided for the rehabilitation and renovation of the existing shopping center, allowed for the acquisition and demolition of certain buildings, and provided for appropriate public improvements. Commonly known as Elmhurst Crossing Shopping Center, the IL Route 83/St. Charles Rd. redevelopment project area is a thriving retail center; home to Kohl’s, Portillo’s, Whole Foods Market, and many more retailers.
To view ordinances and other documents related to the IL Route 83/St. Charles Rd. project, please visit the Development Project Area Document Portal.
IL Route 83 & St. Charles: Fact Check
What are the parameters of this project area?
Created: 1996 – Expires: 2019
Frozen Base at Start: $4,159,380 Current EAV (2016): $10,565,040
What incentives are available for businesses in the IL Route 83/St. Charles Rd project area? Why are businesses outside of this area ineligible?
Property Tax revenues generated by improvements in designated TIF areas must be invested back into the district for TIF eligible expenses including: land acquisition, site preparation, building rehabilitation, and public improvements. As funding generated through tax increment financing must be reinvested into the TIF district, businesses outside of the designated project redevelopment area are not eligible for TIF based incentives or assistance.
At this time, TIF specific incentives are not in place in the IL Route 83/St. Charles Rd. Redevelopment Project Area.
General TIF Incentives: The City has a comprehensive TIF Incentive program, which provides redevelopment assistance for eligible projects to support property improvement and building activities, including acquisition, architectural design, demolition, engineering, infrastructure, interior remodeling, planning, signage, and site work. TIF funds can also be used by property owners and businesses to make needed improvements consistent with the City’s Comprehensive Plan.
Financial ReportingAnnual reporting is completed specifically for each TIF. To view TIF reports from 2007/2008 through the present visit the Development Project Area Document Portal.
Email us with questions you may have regarding the history of TIF 3 or the Financial Reporting of any Elmhurst TIF.