District 97 is scheduled to vote next week on whether to open the Downtown TIF settlement agreement.
D97 is scheduled to take action at its June 25 regular school board meeting on the proposed amendment. The village of Oak Park last month sent a letter to both Oak Park school districts, asking that the 2011 agreement be amended to allow Downtown TIF dollars to go toward developing the Colt-Westgate site.
District 200 has already stated its openness to amending the agreement.
Both school districts would benefit from tax revenue from newly-developed Colt-Westgate properties. D97 and D200 each could net $900,000 annually in property tax revenue once those properties come back onto the tax rolls, according to preliminary estimates from the village.