Westchester hesitant to pursue TIF district
WESTCHESTER – Despite nudging from the Economic Development Committee, the village will not pursue the creation of a TIF district until it receives concrete interest for new developments
The village recently conducted a feasibility study that identified five potential TIF districts, which help local governments improve infrastructure and attract businesses. Since the study, the Economic Development Committee has debated which areas to pursue and now wants to talk to the Village Board about applying for a TIF district.
But without interest from developers, village staff will not spend the $30,000 to $50,000 it can cost to develop a TIF district, Village Manager Janet Matthys said.
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