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The original item was published from 8/13/2021 12:24:19 PM to 12/14/2021 12:00:03 AM.

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General Press Releases

Posted on: August 13, 2021

[ARCHIVED] Westmont TIF Districts Update

Westmont, Illinois -- Date Issued: August 13, 2021

On August 13, the Village of Westmont participated in two separate TIF Joint Review Board meetings regarding the Central Business District (CBD) and the South Westmont Business District (SWBD) TIF Districts.  The two TIF, tax increment financing, districts were created in 2013 for the purpose of assisting with redevelopment in previously blighted areas of the community.

“By all accounts, we have to declare our two TIF districts a big success,” said Mayor Ron Gunter.  “It wasn’t too long ago in which the old strip mall was an eyesore for the community at 63rd and Cass.  The TIF district provided the incentive needed to encourage developers to move forward with projects.  Since the creation of the South Westmont TIF, we have had a number of new businesses open their doors including Mariano’s, LA Fitness, Raising Canes Restaurant, Starbucks, and now the new Amazon Fresh store.  Also, our Central Business District TIF resulted in the currently under construction Holladay development at Cass and Quincy which will include downtown residential units as well as a ground floor restaurant for Whiskey Hill.  All of this development was inspired by the creation of the TIF districts.”  Other new businesses that are part of the SWBD TIF include Great Clips, a Bank of America location, and the soon-to-open Smoothie King.

Additionally, the approved plan for a 7-story development on the northeast corner of Cass and Burlington also falls within the boundaries of the CBD TIF District.  As the TIF districts continue, additional projects are being considered and expected in the future.  More TIF information can be found on the Westmont TIF District webpage.  


 

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