St. Charles TIF accord gets another look
ST. CHARLES – The Planning and Development Committee on Monday night delayed voting on a $6 million tax increment financing redevelopment agreement in connection with the proposed Lexington Club housing development to allow the Joint Review Board to consider it as well.
The Joint Review Board – which is made up of a representative from each taxing authority affected by a TIF district – had unanimously recommended approval of the proposed TIF district in January, when it called for about $5 million. Residents believed the board should weigh in on the increase.
First Ward Alderman Dan Stellato agreed.
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