Condo Proposal Concerns School Officials Fox Lake School Superintendents Fear Special Taxing District, More Students

By Filas, Lee | Daily Herald (Arlington Heights, IL), April 7, 2004 | Go to article overview

Condo Proposal Concerns School Officials Fox Lake School Superintendents Fear Special Taxing District, More Students


Filas, Lee, Daily Herald (Arlington Heights, IL)


Byline: Lee Filas Daily Herald Staff Writer

Fox Lake school officials say they are concerned a proposal for a 14-story downtown condominium complex will likely include a special taxing district.

John Donnellan, superintendent of Fox Lake Elementary District 114, and Grant High School District 124 Superintendent John Benedetti say such a project would add students but not increase revenue.

At issue is the likely request for a tax increment financing district, which freezes property tax rates at the current level for up to 23 years. After the parcel is assessed following development, the tax money is refunded to the developer to offset construction costs rather than going to taxing districts, like schools and libraries.

"(Developers) haven't requested the TIF district from the village yet, so I'm not sure what the feeling of the school board is," Benedetti said. "However, I always have concerns when a project will produce students to a school district, but will not release tax dollars for 23 years."

Village officials said last week Exceed Developments of Spring Grove will request a TIF district as part of a $40 million condo proposal at the old Forest School site at Forest Drive and Grand Avenue.

The project, expected to be reviewed by the board this month, would feature 12 floors and 130 residential units. The first and second floors will be devoted to retail and office use.

Community development director Claude LeMere said developers will drop their plans unless the board approves the special taxing district. …

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