Journal shouldn't tout TIF


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I usually find myself in disagreement with Oak Park's other weekly, but that has reversed itself recently with the Journal's support for extending the downtown TIF for another 13 years ("Bold, but respectful, plan for downtown," Feb. 9). I'd ask that the paper reconsider the endorsement by giving consideration to another aspect of the incentives.

There was a sidebar article titled "Station Street will require Taxman's blessing." Why wouldn't the Taxman Corporation support the Crandall Arambula proposal? As a property owner in the downtown TIF district the Taxman Corporation pays its taxes, and any increment above the taxes derived from the 1983 assessment level goes into the TIF district. Therefore, properties such as the Colt Building owned by the Taxman Corporation that are purchased by the village with TIF funds to develop the proposed Station Street project will be done with the Taxman Corporation's own money. Talk about a return on investment.

Chris Donovan
Oak Park

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