Lake Zurich establishes new TIF district to spur investment in 409-acre industrial park

Lake Zurich hopes to use its newly approved tax-enhancing lending district to encourage investment in the town’s 409-acre industrial park.

Village mayor Ray Keller said now that the long process of establishing the district is complete, the “fun part” begins.

Keller said on Tuesday, shortly after the district was created by a unanimous vote of the village board, that “we already have some involvement with the industry within the industrial park and they are interested in some projects. “We are looking at what they are thinking and how we are doing to realize their goals.” You can see if we can help you.”

The industrial park is located on the east side of the village and includes offices north of Route 22, east of the railroad tracks, west of Capital Drive, and south of Telsar Road.

TIF districts, which typically last 23 years, can divert property tax revenues in excess of current levels from local governments, such as schools and library districts, into a special fund where they can be used to pay for economic development efforts.

Village officials said the objectives of the new TIF district include reducing the dilapidated condition, strengthening the village’s tax base and encouraging private investment within the industrial park.


The board first began pursuing the TIF plan in May 2022, working with Evanston-based consultants Teska & Associates to develop the plan throughout the summer.

Other government tax agencies and local stakeholders had the opportunity to challenge the plan, but did not file, according to the village.

In October, the planned school district was discussed by the Lake Zurich TIF Joint Review Committee, a committee that includes representatives from Lake County, Ella Township, Ella Public Library, Lake Zurich Unit School District 95, and College of Lake County. , was approved.

A hearing on the new TIF was held in November and no one challenged the plan.

According to village documents, the expected completion date for the TIF area of ​​the industrial park is the end of 2046.

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