Park Ridge TIF District Could End in $27 Million Deficit

The city of Park Ridge could lose a considerable amount of money on its Tax Increment Financing District, the Park Ridge Herald-Advocate reports.

According to a report given to the City Council last week, The TIF could end in 2027 with a deficit of $27.7 million. Recommendations made to try and avoid a deficit include extending the TIF another 12 years, restructuring TIF debt, changing the boundaries of the Uptown TIF District and reviewing the city’s financial intergovernmental agreements, the Herald-Advocate reports.