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TIF and
Historic Structures
Illinois
Governor Blagojevich in August signed SB 2733, a new law
that will greatly reduce the ability of communities to
use TIF (Tax Increment Financing) funds to demolish or
alter National Register-listed properties or buildings
that may be “eligible” for Register listing. The bill
was written by Landmarks Illinois board member and
attorney Richard Friedman and attorney Michael Rachlis,
in response to the Village of Lombard’s use of TIF funds
in 2007 to demolish the National Register-listed DuPage
Theatre.
There are almost 1,000 TIF districts in 389
communities throughout Illinois. The bill’s co-sponsors
were Ill. Sen. Dan Cronin (R-Elmhurst) and Ill. Rep.
Robert Pritchard (R-Sycamore), both of whom are members
of the Illinois Legislature’s Historic Preservation
Caucus.
To read the
new law, go to Legislative
Issues.
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