What is the role of Central DuPage Hospital (CDH) in the TIF?

The Village has negotiated an agreement with CDH to act as a developer for this project. In return, CDH is constructing a parking deck to accommodate increased visitors and staff, which can also be used by residents and visitors on weekends. This agreement hinges on the Village creating TIF #2, which is the final ingredient needed for the redevelopment plan to work. 

As a nonprofit entity, the CDH parking deck would normally be exempt from property taxes. However, under our agreement, CDH will put the deck on the property tax rolls for 20 years. Tax revenue from the parking deck will contribute to the Village’s TIF fund established by TIF #2, along with other revenue generated by new development in the TIF. 

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1. What is a Tax Increment Financing (TIF) District?
2. What will the new TIF be used for?
3. What are the key benefits of the TIF for Winfield?
4. Will my property taxes go up because of the TIF?
5. Who supports the TIF?
6. Why do some people oppose the TIF?
7. How can I be sure this financing tool will work out for Winfield?
8. How will the TIF benefit the two local school districts?
9. What is the role of Central DuPage Hospital (CDH) in the TIF?
10. What is happening to the first Winfield TIF?
11. What are the next steps for the approval of TIF #2?