Deja' Vu All Over Again

The following is a text of my address to the Village Board:
Arlington Heights Village Board Meeting
Monday, November 18, 2013

Re: T.I.F District and increase Tax Levy

It seems as though we are having a deja' vu moment all over again. You know, where we grant T.I.F. districts to attract business that subsidizes the developer crowd. Groups that do not need the tax breaks in the first place.

Then simultaneously raise property taxes on the homeowner to compensate for the reduced tax revenue lost from the T.I.F. District and related tax subsidies.

It seems that if a company needs a tax break to set up in Arlington Heights, that business may not stay. If the consumer market from a weak economy is not ready to support that business, a tax break is not going to make the difference.

My first recommendation would be to do neither one. In other words do not grant a T.I.F district and do not raise taxes on the homeowner.

But if we have tax breaks to throw around, I would suggest we give relief to the homeowner rather than the corporate developer crowd. Home owner's are about 65% of the total E.A.V. around here. We could use some relief.

A tax subsidy to the homeowner that we could design to be spent locally, would support businesses that are already here. Once the demand side of our community is strengthened, it will attract new businesses and we will not need T.I.F. district tax subsidies or tax increases to the homeowner.

So a tax break to the home owner, that spends it locally, would have a much higher local economic impact than a T.I.F district; that largely benefits very few. Because if homeowners do not have the income to spend and support that business it will probably leave.

I await your comments.

The Vote Follow-Up

There were no comments prior to their vote.

Mr. Glascow then moved to proceed to the second phase of the re-development plan with consultant Kane, McKenna and Associates, Inc. not to exceed $20,500. This would include a schedule for public hearings considering a T.I.F District at the Hickory/Kensington area.

Also following that unanimous vote, The Board then voted to raise the total tax levy to $44,575,400 or 1.8% over the 2012 tax levy.