The Campton Hills Joint Review Board this week backed a proposed $90 million tax increment financing district for 583 acres of the 962-acre LaFox of Campton Hills project which includes 900 homes annexed last year.

The Monday vote was 6-2 with one abstention after more than an hour of discussion and public comment for the LaFox Road TIF District.

The Joint Review Board is made up of representatives of the taxing bodies affected by creating the TIF district – in that the equalized assessed values of the properties would be frozen, while increased revenue would be diverted to pay for public improvements.

A tax increment finance district – known as a TIF – is a development tool municipalities use to encourage development in blighted areas too expensive for private dollars alone. TIF districts typically last 23 years, but can be extended.

“The joint review board’s role is limited to review the redevelopment area, the redevelopment plan and make an advisory recommendation,” village attorney Carmen Forte said.

The next step is a public hearing scheduled for April 7, with the village board taking final action no later than April 21, officials said.

SB Friedman Development Advisors’ eligibility study found that the acreage itself does not flood, but it contributes to flooding in the Mill Creek watershed, fulfilling one of the legal requirements to create a TIF district.

The TIF would provide public funding for redevelopment by addressing flooding and facilitating the assembly of various parcels of land, Friedman partner Geoff Dickinson said.

“The goals and objectives are pretty general in nature,” Dickinson said of how the $90 million in TIF increments would be spent. “We think most of the money is going to be spent on site preparation and ... public works.”

Eligible expenses:

• $45 million for public works construction

• $40 million for property assembly and site preparation

• $2 million for administration and professional services

• $1 million for site marketing

• $800,000 for financing

• $800,000 for capital costs

• $400,000 payments in lieu of taxes

Park Board president objects to TIF

About 25 people attended the meeting at the Lord of Life Lutheran Church in Campton Hills.

Yvonne and Carl Dinwiddie of Batavia both objected to creating a TIF under any circumstances, arguing that taxes are being diverted to support companies that already have enough money.

“When you have a TIF district, you – the taxpayer – are paying for the developer to develop his property,” Yvonne said. “Do you want to give it away to someone who already has enough money?”

Carl Dinwiddie said the proliferation of TIFs is not sustainable.

“It has to stop,” Carl said. “We can’t afford it and our schools can’t afford it.”

Jay Moffat, board president of the Geneva Park District, said the TIF would cost the park district $350 million in lost assessed value.

“The TIF freezes the amount of tax revenue at $1,800,” Moffat said. “This development will eventually be worth over a billion dollars in real estate (value). ... We welcome future residents. The problem is, we can’t afford to build parks if there is no income coming in.”

Moffat suggested that village officials instead consider creating special service areas to develop neighborhood parks for their new residents.

“Once the TIF is over, future boards of the Geneva Park District would gladly accept the parks and the SSAs would no longer be needed,” Moffat said.

Kane County Board President Corinne Pierog said the western part of the Kane County water aquifer is shallow, so the developer would have to drill into deeper aquifers to maintain the water supply for 900 new homes.

“I’d like you all to imagine, one day, 15 years from now. You just bought a home for $800,000. You turn on the water faucet and you get muck,” Pierog said. “We can’t build something that does not have that long-term support.”

Geneva Public Library Executive Director Christine Lazaris said a TIF would negatively impact the library district.

“It is placing a burden on us,” Lazaris said.

Lazaris and Geneva Park District Executive Director Nicole Vickers cast the two no votes while Elburn Fire Chief Michael Huneke abstained.

Geneva District 304 Superintendent Andrew Barrett, Blackberry Township Supervisor Esther Steel, Waubonsee Community College Assistant Vice President of Finance Darrin Kader, public member Joe Garbarski, Campton Hills Village Administrator Mark Rooney and Pierog all voted yes.