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Palatine wants to extend life of downtown TIF district for public projects
Palatine hopes to extend the life of its downtown TIF district for projects such as $7 million in stormwater improvements at Colfax and Smith streets, where rainstorms cause power outages and flooding that makes it difficult even for school buses to drive through. Mark Welsh | Staff Photographer
Updated 1/22/2021 10:17 PM Palatine wants to extend the life of its downtown tax increment financing district to do public improvements and is seeking support from the affected taxing bodies. TIF district is set to expire at the end of 2022, after a 23-year maximum life span under Illinois law. That can be extended by an additional 12 years with a bill passed by the General Assembly. ....