With the renovations of Tischler’s foods in Western Springs and the closed Borders in La Grange, La Grange Park has submitted its plans to see if the city is eligible for its own Tax Increment-Financing (TIF) plan.

“The TIF district allows the community to benefit from additional money that comes in above the initial tax increase,” La Grange Park Village President Jim Discipio said.

Currently, three areas in La Grange Park are being evaluated to see which one, if any, are eligible for a TIF. The possibilities include: Village Market on La Grange Road, property along 31^st street near La Grange Road, and the industrial area on Barnsdale Road that borders 31^st and includes Hanesworth Park.

“If we are able to make [the TIF] eligible, it will hopefully incentivize the owners and developers to come in and improve the site,” Discipio said. “When you have the chance to improve a site you increase the value and tax base of that district. In the end you can get a new business or further tradition of the spot.”

Although stimulating business and luring in new residents are a plus to any TIF plan, schools and other tax-based institutions will receive the brunt of the possible deal. Taxes freeze for 20 years if one of the TIFs would become eligible, so if the school district finds it necessary to increase their taxes to reap benefits for their students, they would be restricted.

“It sounds really great for those who are non-taxpayers, but in the end it cause higher taxes, and the taxes are already really high here,” LT student and La Grange Park resident Siobhan Callahan ’17 said. “It wouldn’t produce immediate results either. The taxes here have practically doubled and I don’t think the people could handle more.”

Before finalizing any plans, La Grange Park Officers will speak with all of the members on the tax bill that will be affected by the possible TIF.

“We do not want to make it hard for any of our local entities, like our schools, to function,” Discipio said.

If the TIF plan is passed, Discipio and the rest of the village board look to educate all of the members of the community on the future plans and layout of the TIF.

“We looked at our options on how we would be able to increase our business and economic environment and developments,” Discipio said. “One of the options to help and stimulate growth was to possibly get a developer to improve the site and offer them an incentive with a TIF.”