It's unclear if PILOT would be more palatable to local school districts in and around Arlington Park than a TIF. That's the case in other states like Texas, she said.
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Gillespie got rid of a provision that would have required all local taxing bodies to sign off on the creation of a TIF - admitting she received "so much pushback" from municipalities she represents - but inserted new language that would allow school districts to opt out and get their full incremental tax revenues. Gillespie's latest proposal to reform the controversial TIF process - in which property taxes above a certain level are diverted from schools and other taxing bodies into development projects - calls for the timeline of such financing to expire after 20 years instead of 23, while tightening the definition of "blighted" under the eligibility criteria. And that's why I thought it would be good to discuss them as a group." "I'm not looking at this bill as a Bears bill, but rather as an economic development tool that is in the same general categories as a TIF. This bill as drafted isn't designed exclusively for the Bears, nor should it be," she said. "But I also think the conversation needs to go beyond the Bears. That draft is what Gillespie formally introduced Monday, and she said she's fine with it being the "starting point" for discussions. Gillespie said what she likes about the program is how it's used in some states, where municipalities ask nonprofits like hospitals, universities and cultural institutions to make payments to supplement local revenue and pay for services.Ī draft of the legislation was released late last month by a coalition of supporters including the Bears, the Illinois Chamber of Commerce, the Illinois Road & Transportation Builders Association and the Northwest Hispanic Chamber of Commerce. Under the legislation, developers of "mega projects" - those worth at least $500 million - would be allowed to make negotiated payments to local taxing bodies like schools and municipalities, while also getting an assessment freeze of up to 40 years. Gillespie admits her primary concern with the PILOT concept is the part that would most certainly help the Bears - what she called a "forbearance" of tax revenue. "So I thought sponsoring both of them together would enable that wider discussion to take place." Your satisfaction is 100% guaranteed."The more I thought about PILOT and the fact that I'm running the TIF bill again, the more I thought we need to have a broader conversation around these tools and how they impact local taxing bodies and how they impact the taxpayer and how they affect small businesses," said Gillespie, whose 27th District includes the 326-acre shuttered racetrack that could be home to a new Bears stadium. You may at any time change your automatic renewal status or cancel your subscription by contacting the newspaper. SundayĪutomatic Renewal Service: By clicking Submit Order, you agree your subscription will renew and adjust to the regular rate and your credit/debit card will be charged accordingly after the introductory offer price in effect. Select a Daily Herald subscription deal above to get started >ĭelivery Time: 6:30 A.M. Daily Herald helps you stay connected to the stories and topics that affect you. Every Sunday edition includes over a hundred dollars in savings. Plus, coupons, comics and local obituaries. Daily Herald editors, reporters and photographers provide coverage of sports, business, politics, education, health, culture, arts and local events. Daily Herald home delivery subscribers receive trusted, in-depth coverage of suburban news as well as national and international news. Choose a Daily Herald subscription discount option that best fits your lifestyle.
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