Hinsdale D86 Mulls Tax District In Clarendon Hills

HINSDALE, IL – The Hinsdale High School District 86 board on Wednesday plans to consider Clarendon Hills' proposal for an economic development tax district on 55th Street.

The board is holding a special meeting for the one issue.

Clarendon Hills is pushing a tax increment financing district, or TIF, that would generally run along the north and south sides of 55th Street between Western and Holmes avenues.

After the village establishes it, the money generated from the growth in the property tax base would go to the tax district. Under state law, that money can be invested in projects in the district that spur development, benefitting the local economy in the long run.

Under state law, schools and other taxing bodies would not receive any of the growth in tax money over 23 years. The argument is that a TIF would stimulate enough development that other bodies would benefit in the long run.

Sometimes, towns get school districts' approval for TIFs by agreeing to give some portion of the growth in tax income. Elmhurst did this.

According to District 86's agenda, attorneys Neal Smith and Scott Ginsburg of the board's law firm, Chicago-based Robbins Schwartz, will provide information about how tax districts work and details of Clarendon Hills' proposal.

The board may take action to direct its representative on how to vote at an upcoming meeting of Clarendon Hills' 55th Street TIF Joint Review Board.

The board's meeting is at 6 p.m. Wednesday at Hinsdale Central's library, 5500 S. Grant St.