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TIF and Historic Structures
Illinois Bill SB 2733 Signed
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.
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