T
wo developers are exploring public financing options to revitalize three vacant properties in Orland Park's Village. JD Real Estate and Orland Park Lake Ventures are working with village officials to create tax-increment financing districts for sites they control, including a former manufacturing site, a closed restaurant, and a former car dealership. A consultant is assessing whether the properties meet state eligibility criteria.

    The developers have invested $185,000 in feasibility studies, but public financing would be necessary to make redevelopment viable. The Andrew Corporation property, which once held 600,000 square feet of space, has a complicated history due to environmental contamination. Village officials are exploring commercial and residential options for the site, depending on cleanup costs.

    Establishing TIF districts allows municipalities to redirect tax revenue towards infrastructure improvements or developer incentives. However, some local officials have raised concerns that TIFs would divert millions in property taxes away from schools and public services. Discussions are still in their early phases, with village mayor Keith Pekau noting that redevelopment could benefit the community in the long run.