Channahon eyes tax district at I-55 interchange
By Jeanne Millsap For The Herald-News July 6, 2012 8:28AM
Updated: August 12, 2012 6:09AM
CHANNAHON — The village has one tax increment financing district in its industrial zone at the Aux Sable Liquid Products site on Route 6, and it will create another on land surrounding the Route 6/Interstate 55 interchange soon.
Village staff have been working on attracting developers to the area, which they believe is prime commercial property. Many have even gotten so far as to come before the board with plans, but the roadway infrastructure continues to be a problem.
Creating a TIF zone may solve that problem, the village believes.
“A TIF offers incentives to developers to improve the property and roadways,” Village Administrator Joe Pena explained at last week’s village board meeting.
The village board approved hiring Kane McKenna Associates at a fee not to exceed $43,000 to establish the TIF district along with a business district in the same vicinity.
The firm has already done a first phase study of the land in the area around the interchange, and it now will perform a full TIF study, updating the previous data and preparing a plan of redevelopment.
The business district, said Director of Community Development Mike Mahon, also would allow the village to create some new taxes, such as a motel-hotel tax, an amusement tax, and additional sales taxes. There could also be facade loans and micro loans for small businesses there.
The board last week also approved entering into an agreement with Mark Wunderlich, owner of a vacant lot on the northwest side of the Route 6 and I-55 interchange.
Trustee Scott Slocum said semi trucks have been parking overnight in the lot. Slocum asked staff to look into the matter, and Channahon police reported that the situation could pose the potential for criminal activity.
The owner, according to village staff, was willing to allow the village to post “no trespassing” signs at the site and to enforce those signs with police action. Staff said erecting Jersey barriers to protect entrances to that property also is a possibility.