A rendering shows a proposed U-shaped apartment complex in downtown Winfield.
Courtesy of the village of Winfield
Winfield trustees will soon vote to approve preliminary plans for a second major apartment development in the downtown in recent years.
Synergy Construction Group has proposed a 147-unit complex just east of village hall. The Chicago-based firm also developed the “Winfield Station” apartments.
“The first one was very successful and has certainly bolstered business at our Town Center businesses. This development is going to do the same thing and even magnify that opportunity,” Village President Carl Sorgatz said.
But Sorgatz said it will take tax increment financing dollars for the development to move forward — “and that is the only way that this development can move forward.”
The developer is requesting millions in TIF assistance as well as permit fee waivers. However, in a pending lawsuit, area school districts have contested the validity of a TIF district established by Winfield.
In a written statement, Winfield Elementary District 34 said it appreciates the village’s desire to develop Winfield’s Town Center, including the potential development of proposed apartments.
But the statement says the district wants the development done “legally and equitably, especially for the district’s taxpayers paying those development costs.”
The district said it believes it will prevail in court and that the village will be required to reimburse it and other taxing bodies “for funds expended.”
In a TIF district, as redevelopment boosts property values, the extra tax revenue that otherwise would go to taxing bodies such as schools and parks can be used to pay for improvements within its boundaries.
The village responded in its own statement that it’s confident the court will rule that the TIF district was established legally and meets all criteria in the Illinois TIF Act.
“A TIF is a common economic development tool that has been used with great success by hundreds of Illinois municipalities to revitalize their downtowns and generate new revenue for all local taxing bodies, including just recently in Wheaton,” the statement read in part.
Winfield trustees are expected to vote on the preliminary apartment plans by the end of the summer. A proposed redevelopment agreement with Synergy also is being finalized.
Sorgatz said that “both the Winfield Station and now Winfield Reserve, once that finally gets up and running, are going to be a tremendous boost for all taxing bodies in the community.”
“It should help us tremendously in being able to attract new businesses, which is what … we’re trying to accomplish here in Town Center.”