Hoffman Estates officials have scheduled a pair of meetings for local governments and the public to weigh in on a proposed tax incentive to encourage development on the north corners of the intersection of Higgins and Old Sutton roads.
The village is proposing the tax increment financing district for 24 acres at the northeast corner and 16 acres at the northwest corner, independent of any existing development plan — including the Plums Farms concept that’s been stalled for two years.
Including adjacent right of way, the proposed TIF district would cover 64 acres. Initial revenue from the TIF would pay for public utilities on the land.
A Joint Review Board made up of the local governments that would see their tax revenues affected by the TIF district is scheduled to meet at 9 a.m. Wednesday, Sept. 11, at Hoffman Estates village hall, 1900 Hassell Road.
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