The South Arlington Heights Road Corridor Plan, approved by the Board in 2018, recommends evaluating funding options to facilitate public and private improvements along this important corridor. The Board also previously designated redevelopment of this corridor as a Strategic Priority of the Board. Staff is recommending hiring Kane McKenna and Associates, who specialize in economic development solutions, to develop a Tax Increment Financing Redevelopment Plan for a portion of the South Arlington Heights Road Corridor and to assist with the public hearing process to consider a Tax Increment Financing District. Staff is requesting up to $27,500 for this project. 

Funds for this project are available in Account # 401-4001-571-5030 ST1930.

Recommendation

It is recommended that Village Board approve a contract with Kane McKenna and Associates in an amount not to exceed $27,500 to develop a Tax Increment Financing Redevelopment Plan and authorize staff to execute the contract.