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Ogden Avenue Tax Increment Financing District
The Ogden Avenue Tax Increment Financing District was established for a two-block stretch of properties along Ogden Avenue near Route 83. The TIF district covers 8.7 acres. The Ogden Avenue TIF Redevelopment Plan allows for reallocation of incremental tax dollars to help fund redevelopment and related activities within the designated area.
On May 2011 the Village approved entered into a redevelopment agreement between the Village and Ogden Clarendon LLC (Infiniti of Clarendon Hills). This agreement authorized the Village to reimburse the developer for TIF eligible expenses associated with the purchase and demolition of a blighted hotel and public improvements associated with the development of a automobile dealership. The Infiniti of Clarendon Hills dealership later opened in 2012.
Related Reports
Related Ordinances
- Ord 04-02-02 Authorize to Study the Feasibility of Establishing the Ogden Av TIF
- Ord 04-06-24 Interested Parties Registry
- Ord 05-09-45 Designate the Ogden Av TIF Joint Review Board
- Ord 05-12-76 Approve Ogden Av TIF Redevelopment Plan and Project
- Ord 05-12-77 Designate Ogden Av Redevelopment Project Area
- Ord 05-12-78 Adopt Tax Increment Financing for Ogden Av TIF District
- Ord 10-11-36 Redevelopment Agreement for Infiniti Development
- Ord 11-05-19 Amend & Restated Redevelopment Agreement for Infiniti Development
- Ord 12-02-07 Authorize 2012 Debt Certificates for Ogden Av Property Purchase
- Ord 12-02-09 Approve Special Use Permit for Infiniti, 427 Ogden
- Ord 15-09-50 Amend Ord 06-09-45 Designating Ogden Av TIF Joint Review Board