Title
Ordinance Approving the Discontinuation of the Main Street Tax Increment Financing (TIF) District
History
This ordinance authorizes the formal discontinuation of the Main Street Tax Increment Financing District (MST TIF), originally established by the Village of Orland Park on October 4, 2004, and subsequently amended in 2007 and 2024. The Village has determined that the MST TIF has fulfilled its intended purpose and that dissolution is in the best interests of the community.
In accordance with the Illinois Tax Increment Allocation Redevelopment Act (TIF Act) and the Illinois Constitution, the Village conducted the required statutory process, including:
• Entering into an agreement with Orland School District 135 and Consolidated High School District 230, committing to discontinue the MST TIF no later than December 31, 2025.
• Convening a Joint Review Board (JRB) meeting on October 16, 2025, where the proposed discontinuation was reviewed.
• Receiving a formal recommendation from the JRB in support of dissolving the MST TIF.
• Providing all legally required notices and conducting a public hearing in compliance with the TIF Act.
This ordinance repeals all prior ordinances and legal instruments establishing and amending the MST TIF. It declares the MST TIF null and void and discontinues the district in its entirety, effective upon adoption and publication.
Recommended Action/Motion
I move to adopt an Ordinance entitled: AN ORDINANCE OF THE VILLAGE OF ORLAND PARK, COOK AND WILL COUNTIES, ILLINOIS APPROVING THE DISCONTINUATION OF THE MAIN STREET TAX INCREMENT FINANCING DISTRICT.