Glenview initiates TIF for Mariano’s/apartments development
Updated: February 25, 2013 6:12AM
GLENVIEW — Glenview trustees made the first move Tuesday in forming a proposed Tax Increment Financing district to build a mixed-use development at the former 21-acre Avon Products complex.
The $3.5 million TIF plan now goes to affected taxing bodies and a joint review board for study, and it will be open for public review at 7:30 p.m. March 19 at Glenview Village Hall, 1225 Waukegan Road.
The TIF is set to expire in 2021 or 2023 and would impact the village of Glenview, school districts 34 and 219, Niles Township and Glenview Park District.
Don Owen, village deputy manager, told trustees $4.7 million through a bond issuance was needed for infrastructure improvements, site demolition, land acquisition and legal and engineering planning.
A good share of the bond proceeds will finance traffic control measures around the project on Waukegan Road, between Overlook Drive and Golf Road in southeast Glenview.
When the development was first announced in 2012, residents from the village of Golf objected to its main entrance and exit on Overlook Drive.
“Residents of Golf were worried about cut-through traffic, so the developer Regency Center tabled it,” Owen said.
Instead, new traffic plans were submitted and approved Dec. 11 through a village memorandum of understanding that required Regency Center to accept several regulatory changes and property variations.
A key traffic modification to handle higher traffic volumes was installing a midblock traffic signal on Waukegan Road between Overlook Drive and Golf.
Other traffic improvements included:
• a southbound left turning lane from Waukegan Road into the development • a northbound right turning lane from Waukegan Road into the development.
The apartment building would offer 238 units with parking spaces located within the complex just south of Overlook Drive.
At the south end, a 75,000-square-foot Mariano’s is planned with a 30,000-square-foot retail/bank center.
In December 2011, Regency Centers submitted an application to the village to include a McGrath Audi car dealership.
McGrath currently has a dealership at 301 Waukegan Road.
However, McGrath pulled out when the review process stopped and was tabled until February.
“The (Avon) site has been blighted and vacant for years without a viable project,” Owen said, adding the plant closed in 2010 due to company consolidation.
He also said the impacted taxing bodies each year would share $1.1 million in property tax revenues from the development. Estimated sales tax revenues would bring in an annual $500,000.
The village also estimated 16 students living in the apartments in the new development would attend Glenview School District 34, with six students going to Niles Township School District 219.
At an earlier village board meeting, Trustee Scott Britton said,
“We’ve reached out to other taxing jurisdictions, like school
Districts 34 and 219. They’ve both shown no substantial objections.”