A developer has withdrawn his request for a tax incentive for a proposed 184-acre development in western Hoffman Estates that particularly drew the ire of Barrington Unit District 220 and Community Unit District 300.
Anthony Iatarola, manager of the development partnership 5a7 LLC, clarified that while the request for a tax increment financing (TIF) district for the 184 acres at the northwest corner of routes 59 and 72 was withdrawn Wednesday, proceedings for a mixed commercial and residential development there are continuing.
“Obviously, the school districts are vehemently opposed to it,” Iatarola said of the request for a $21 million tax reimbursement over the course of 23 years. “Having them on board and positive about it would have been great.”
Though the original request for a TIF district is no more, Iatarola said he couldn’t comment on whether a new or revised one could follow in the future.
The full Daily Herald article can be found here.
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