Hoffman Estates TIF Update: Controversial TIF District Plan Withdrawn
The Board of Education has new developments to share regarding the Tax Increment Financing (TIF) District in the Village of Hoffman Estates known as Plum Farms. The controversial development plan called for more than 1,000 residential units within Barrington 220 and District 300's boundaries, and would have a $120 million adverse impact on our district.
On April 5, the developer informed the Village of Hoffman Estates that it has withdrawn its request for the approval of the establishment of a TIF District for the Plum Farms development that has been the subject of recent meetings and hearings.
A communication from the Village of Hoffman Estates to Barrington 220 School District and School District 300 states in part, "The Owners request that the Village of Hoffman Estates cease any consideration of, and any further actions regarding, the proposed 'Route 72 and Route 59 Tax Increment Financing Redevelopment Plan and Project.'"
This means that all future meetings to consider the approval of a TIF district will be canceled, including the Joint Review Board meeting scheduled for April 18 and the TIF hearing, tentatively scheduled for May 1, 2017.
The owners of the property at Routes 59 and 72 will continue to pursue annexation of the land into the Village of Hoffman Estates, with a re-zoning based on a new classification for the Village of Hoffman Estates, and future development of the property.
The public hearing to consider the annexation and zoning changes is tentatively scheduled for April 17, 2017 prior to the regular meeting of the Village Trustees.
Districts 220 and 300 will continue to work with the Village of Hoffman Estates and the landowners of the property at Routes 59 and 72 to promote a development that creates a responsible impact on our schools and taxpayers. We remain concerned about the high residential density being considered for this property.
We will communicate any new information to you as it becomes available. Thank you for your continued support during this issue.