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Lisle Considers TIF for Downtown Revitalization

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  Published in Politics and Government on Friday, January 30th 2026 at 21:00 GMT by Patch
      Locales: Illinois, UNITED STATES

Lisle, IL - January 31st, 2026 - The Village of Lisle is poised to take a significant step forward in its ambitious plan to revitalize a key downtown area. The Village Board will convene on Monday evening to discuss Tax Increment Financing (TIF) options and the redevelopment of the prominent Family Square property, located at 900-950 Burlington Ave. This meeting represents a crucial juncture in a project aiming to reshape a vital part of the community and boost local economic activity.

The 7 p.m. session, to be held at Village Hall, will focus on exploring the most effective funding mechanisms for the Family Square project. Village officials have emphasized the importance of responsible financial planning, and the TIF discussion is central to ensuring the redevelopment is both viable and beneficial for Lisle residents and businesses.

Understanding Tax Increment Financing (TIF)

TIF districts are specifically designated geographic areas where property tax revenues are frozen at a base level. Any increase in property tax revenues generated after development within the TIF district - the "increment" - is then reinvested back into the district itself. This revenue is used to fund improvements like infrastructure upgrades, public amenities, or, in this case, a large-scale redevelopment project. TIF is a widely used economic development tool, but it's also subject to scrutiny regarding its impact on other taxing bodies, like school districts, and overall property tax rates.

The Family Square property represents a cornerstone of Lisle's downtown core. For years, the area has been identified as a prime location for revitalization, and the Village has been actively soliciting input from the community to guide the redevelopment process. The current vision centers around a mixed-use development - a blend of retail, residential, and potentially office space - designed to create a vibrant and walkable destination.

Village President Laura Grill underscored the community's role in shaping the project, stating, "The feedback we've received from the community has been invaluable in shaping our approach to the Family Square redevelopment. This meeting marks an important step in evaluating how we can best support this project and ensure it aligns with the community's needs and desires." This emphasis on community engagement suggests the Village is prioritizing a development that reflects the values and preferences of its residents.

Key Discussion Points Expected at Monday's Meeting

Beyond the specifics of TIF strategies, several key issues are anticipated to dominate the Village Board's discussion. The potential impact on existing local businesses is paramount. Concerns may revolve around competition from new retailers, potential disruptions during construction, and ensuring the redevelopment complements rather than undermines the existing commercial landscape. Mitigating these concerns and fostering a collaborative environment between the Village, developers, and business owners will be critical.

Residents will likely be interested in the project's impact on property taxes. While TIF districts are intended to stimulate economic growth and ultimately increase overall tax revenue, the initial years of a TIF can sometimes lead to shifts in tax burdens. The Village Board will need to transparently address these potential implications and demonstrate how the long-term benefits of the redevelopment outweigh any short-term concerns.

The scope of the mixed-use development itself will also be a central topic. Discussions will likely cover the types of businesses and housing options that are best suited for the location, as well as the overall architectural design and aesthetic appeal of the project. Sustainability and incorporating green building practices are increasingly important considerations for modern developments, and Lisle may be exploring options to incorporate these features into the Family Square redesign.

Looking Ahead: A Catalyst for Downtown Revitalization?

If approved, the Family Square redevelopment has the potential to be a catalyst for broader revitalization efforts in downtown Lisle. A successful project could attract further investment, create new jobs, and enhance the quality of life for residents. It also aligns with broader regional trends of shifting toward more walkable, mixed-use communities.

The Village of Lisle is encouraging public participation in the meeting, recognizing the importance of transparency and community input. Residents are invited to attend, voice their opinions, and contribute to the ongoing dialogue surrounding the Family Square redevelopment. Further details, including meeting agendas and supporting documents, can be found on the Village of Lisle website: [ https://www.villageoflisle.org/ ]