"TIF" stands for Tax Increment Financing. TIF is a financial tool used to assist a municipality in the redevelopment of a specific area that is blighted or showing signs of becoming blighted. A tax increment is the difference between the amount of property tax revenue generated before TIF district designation and the amount of property tax revenue generated after TIF designation. The TIF redevelopment project creates a vital cycle, increasing development and redevelopment in the area, such that when the TIF project ends — and Illinois law allows a TIF project to exist for a period of up to 23 years — all of the taxing bodies benefit from the new growth.

Only property taxes generated by the incremental increase in value of TIF district are available for TIF projects. Tax rates do not change when a TIF is created. TIF districts do not increase taxes. The image below helps demonstrate the purpose and benefits of a successful TIF district.

History of TIF Districts

In the 1960’s and 1970’s, the federal and state governments, including Illinois, began cutting back economic development programs that cities could use to revitalize communities. TIF districts are one of the few remaining tools that local governments can use to attract new business, invest in infrastructure and rebuild blighted areas. TIF districts are a popular and effective redevelopment tool, used in 47 states across the country and in over 250 Illinois cities.

For more information on the history, and laws governing TIF districts, please visit the Illinois Tax Increment Association.

390 Gateway Logistics Redevelopment Project Area

Established: Proposed in 2025
Expiration: 2048 

The proposed 390 Gateway Logistics Redevelopment Project Area is located in south  Schaumburg, adjacent to the Experior TIF District. It is bounded by Frontage Road to the north, N. Gary Avenue to the west, the Metra tracks to the south, and the Experior TIF District to the east.

This goal of this redevelopment project area is to reduce or eliminate conditions that qualify the proposed 390 Gateway Logistics Redevelopment Project Area as a “conservation area,” and to provide the direction and mechanisms necessary to redevelop the proposed area as a vibrant industrial and commercial employment district. 

The redevelopment project area includes Long Avenue, between Frontage Road and Metra Station Drive, which is currently unincorporated. LPC Acquisition Company, LLC has contracts to purchase 20 properties on Long Avenue. They propose to annex Long Avenue into the Village of Schaumburg, remove existing homes, and construct two industrial buildings totaling 436,500 square feet.  

This proposed use aligns with the Irving Park Road Concept Plan, adopted in 1991 and updated in 2015, that encourages new investment and employment-based development.  

The village is working with SB Friedman on the TIF eligibility study and redevelopment plan.  

Centex TIF District

Established: 2024
Expiration: 2047

In May 2024, Village Board approved and designated the Centex TIF District. The overall goal of this redevelopment project area is to reduce or eliminate conditions that qualify as “conservation areas” for improved parcels, “blighted areas” for unimproved parcels, and to provide the direction and mechanisms necessary to redevelop the Centex Industrial Park as a vibrant industrial and commercial district. The redevelopment of the Centex Redevelopment Project Area aims to revitalize the area, strengthen the economic base, and enhance the overall quality of life. 

The estimated eligible redevelopment project costs of the Redevelopment Plan are $151.8 million. The 2022 EAV (the most recent year in which assessed values and the equalization factor were available) of all parcels in the Centex Redevelopment Project Area is $194,570,618. By tax year 2047 (collection year 2048), the total taxable EAV for the project area is anticipated to be approximately $313 million. 

TIF Eligibility Studies

The village worked with SB Friedman on an eligibility report for the Centex Redevelopment Project Area for the creation of the new TIF District.

North Schaumburg (90 North)

Established: 2014
Expiration: 2037

The North Schaumburg District, otherwise known as "90 North", is located in the north part of Schaumburg and bounded by I-90, Roselle Road, Algonquin Road, and Arbor Drive. In particular, the North Schaumburg TIF seeks to:

• Pay for the new I-90 Tollway Ramps at Meacham and Roselle Roads
• Integrate Bus Rapid Transit and local transit services to promote a convenient pedestrian circulation
• Encourage redevelopment of the underutilized properties in the area
• Improve utilities and infrastructure within the project area

Motorola Redevelopment

90 North is the home to Veridian, which is the redevelopment of the former Motorola property into a new 225 acre mixed-use campus. Once completed, the project will feature high-end residential developments, Class A office space, numerous entertainment and hospitality options, and street retail districts. Below is drone footage from various stages of the Veridian development process. Additional information on the redevelopment can be found on the 90 North District website or the Veridian website.

TIF Eligibility Studies & Plans

The village worked with Teska Associates on the North Schaumburg Redevelopment Plan & Project for the new TIF District. Teska completed the Eligibility Study and the Housing Impact Study as part of the project. The village also partnered with Teska to approve the North Schaumburg Plan for this area.

90 North District Regulatory Framework Plans

In 2018, the village established two regulatory framework plans to help guide decision making and evaluate development proposals for east and west side of Meacham Road. The west side plan focuses on the redevelopment opportunities of the former Motorola Campus and the east side plan highlights the need for more restaurants, entertainment venues, programmed public plazas and trails that visitors and employees in the area can easily walk to.

The documents included in the regulatory framework for the new district include the Master Plan, the North District West (NDW) zoning code and the North District West Design Guidelines. The plans in their entirety can be found by clicking on the links below.

• 90 North District West Regulatory Framework Plan
• 90 North District East Regulatory Framework Plan

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Experior 

Established: 2021
Expiration: 2044

To offset unanticipated costs resulting from existing site conditions, the village established a new tax increment financing (TIF) district spanning 55 acres at the southwest corner of Irving Park and Rodenburg roads. This TIF aims to provide financial assistance to cover additional expenses for environmental remediation, site preparation, and public improvements necessary for development. The assistance will be disbursed through a 'pay as you go' model, utilizing the annual increment to reimburse Experior for eligible TIF costs for their new logistics facility.

The village worked with SB Friedman on the TIF eligibility study and redevelopment plan.