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The Berwyn City Council voted unanimously to move forward with a proposed tax increment finance district along Harlem Avenue and Cermak Road at a meeting Tuesday night.
The ordinance passed sets forth a public hearing to be held at 7 p.m. June 28, as well as several other meetings mandated by state law for the creation of a TIF district.
That would allow the City Council to vote on the first of a series of ordinances necessary to enact a TIF at their first meeting in July, said Tim Angell, a projects manager with the Berwyn Development Corporation. The TIF could then be completed late this summer.
The proposed TIF district would extend from Wesley Avenue and Cermak Road to the corner of Harlem Avenue and Cermak Road. The district would then run down Harlem Avenue to 30th Street
The proposed TIF district is being enacted to replace a recently expired district that spanned the entire city along Cermak Road.
The Berwyn City Council voted unanimously to move forward with a proposed tax increment finance district along Harlem Avenue and Cermak Road at a meeting Tuesday night.
The ordinance passed sets forth a public hearing to be held at 7 p.m. June 28, as well as several other meetings mandated by state law for the creation of a TIF district.
That would allow the City Council to vote on the first of a series of ordinances necessary to enact a TIF at their first meeting in July, said Tim Angell, a projects manager with the Berwyn Development Corporation. The TIF could then be completed late this summer.
The proposed TIF district would extend from Wesley Avenue and Cermak Road to the corner of Harlem Avenue and Cermak Road. The district would then run down Harlem Avenue to 30th Street
The proposed TIF district is being enacted to replace a recently expired district that spanned the entire city along Cermak Road.
