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TIF District #3
Geneva Fox River Redevelopment Project Area (TIF #3)

Proposed RPA Boundary for TIF 3 In March 2014, SB Friedman Development Advisors was engaged by the City of Geneva to conduct a formal Tax Increment Financing (“TIF”) Eligibility Study and prepare a Redevelopment Plan and Project. This report details the eligibility factors found within the Geneva Fox River Redevelopment Project Area (the “RPA” or “TIF #3”) in support of its designation as a “conservation area” within the definitions set forth in the Illinois Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq., as amended (the “Act”). In addition to the eligibility analysis, this report also contains the Redevelopment Plan and Project for the RPA.

The RPA consists of 84 tax parcels and 49 buildings located east and west of the Fox River. The RPA covers approximately 98.7 acres (40.5 acres of parcel area within the RPA, 16.0 acres of public rights-of-way, and 42.2 acres of non-parcelized river area), and generally includes parcels fronting the river, from Woodward Avenue to the Union Pacific railroad; parcels on both frontages of State Street, from the Fox River to School Street; and parcels fronting the river on the west bank between State Street and Stevens Street, west to 1st Street or River Lane. The eastern boundary of the RPA is adjacent to the existing East State Street TIF District. The RPA primarily includes commercial and multifamily residential properties, and public open space along the river.

Eligibility Study and Redevelopment Plan and Project Reprot
To view the complete Geneva Fox River Redevelopment Project Area (TIF3#) Report, click here.

Interested Parties Registry 
If you would like to register on the Interested Parties Registry for the Geneva Fox River Redevelopment Project Area (TIF #3), click here.

Public Hearing
A public hearing will be held by the Mayor and City Council of the City of Geneva for the purpose of hearing from any interested persons or affected taxing districts regarding the proposed approval of the Redevelopment Plan and Project, designation of the Redevelopment Project Area, and adoption of tax increment allocation financing therefor.

Public Hearing Details:
Monday, May 16, 2016 at 7:00 PM
Geneva City Hall
22 South First Street
Geneva, IL 60134
(Council Chambers, enter off of James Street)

View the resolution setting dates and times for the public hearing
 
Information on TIF's can be found on the State of Illinois Tax Increment Finance Association.
 View TIF FAQs.