Can TIFs be changed?

 

Yes, TIFs can be changed.

In the case of minor changes to the Redevelopment Plan notice must be given to all taxing bodies and to the public through publication in a newspaper of general circulation within the area prior to the TIF being established.

However, major changes to the Redevelopment Plan adding parcels of property to the TIF district, changing land use, changing the nature of or extending the life of a TIF, increasing the number of low income households to be displaced, add new redevelopment costs to the budget, or increasing the budget by more than 5% after adjustments for inflation, require another public hearing, and all the opportunities for public input that were available during the initial establishment of the TIF district. An example of a major change is the following:

Chicago Ridge — The Village of Chicago Ridge amended the boundaries of its commercial TIF district, adding an additional 44,000 square feet of retail shopping to the area.

 

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