In August 1998, the Village of Berkeley, with the assistance of Teska Associates, Inc. (TAI), prepared an action-oriented strategy for addressing priority issues related to the future growth and development of the Village. As part of this program, the Village Board achieved consensus that economic development is the primary issue currently facing the Village, with priority focus on the revitalization of the St. Charles Road corridor. The Village Board identified three main considerations regarding the St. Charles corridor:
Enhancement of the appearance and condition of buildings, businesses and parkway areas along the corridor; near-term opportunity for the redevelopment of specific parcels on St. Charles Road; and coordination with the Illinois Department of Transportation (IDOT) to ensure that the construction program for scheduled improvements to St. Charles Road includes the enhancements desired by the Village Board.
Implementation of these objectives required direct municipal involvement and financial assistance. As a result, TAI assisted the Village with the preparation of the St. Charles Road Tax Increment Financing Plan. This plan was adopted in 2001 and will serve as the financial tool to facilitate redevelopment in this economically important corridor.
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