A meeting is planned for Monday on a proposed $90 million taxing district for nearly 600 acres of the LaFox of Campton Hills project.

A special Campton Hills Joint Review Board meeting on the increment finance district for the development is scheduled for 9:30 a.m. Monday, March 9 at Lord of Life Church, 40W605 Illinois Route 38, Campton Hills.

The Campton Hills Village Board approved the annexation of LaFox of Campton Hills in September of 962 acres with 900 homes and 440 acres of open space proposed by Shodeen Development.

Village officials hired SB Friedman Development Advisors to create an eligibility report on whether the area qualifies for a TIF district, which it does, because it has blighted conditions of flooding and lack of development, according to the report.

A TIF – or tax increment finance district – is a development tool local governments use to encourage development or redevelopment in blighted areas that would be too expensive to improve with private investment alone. It freezes the assessed value level of property and diverts increased property tax revenue to the TIF to pay for specific public improvements, rather than to the local taxing bodies.

A TIF can last up to 23 years, or longer if the legislature approves an extension.

According to the Joint Review Board agenda, representatives will be present from Campton Hills, Kane County, Blackberry Township, Waubonsee Community College, Geneva District 304, Geneva Park District, Geneva Public Library and the Elburn and Countryside Fire Protection District.

The Joint Review Board’s vote on a TIF district is advisory, not binding.

The agenda includes an overview of the board’s duties, of the proposed redevelopment project area and of the eligibility report, as well as public comment, a question and answer period for the board and then a vote for a recommendation to the Campton Hills Village Board.