Tax Increment Financing

Mature suburbs face a number of challenges when it comes to redevelopment. The Village of Broadview Comprehensive Plan, developed by Teska, identified a number of sites throughout the community that were underutilized. One key underutilized area was a 10 acre area at the southwest corner of 19th Street and 17th Avenue. This site contained an old bowling alley and several other vacant or declining properties. The Village retained Teska to determine eligibility, create a redevelopment plan, and assist in negotiation and plan review for a new commercial development. Despite a difficult economy, a Chase Bank recently opened and the developer, Heritage Companies, is actively marketing the remainder of the Center.