A plan to establish a special taxing district in downtown Downers Grove could be the best way to protect business in the downtown area, officials said.
Known as a special service area, the plan calls for a 1 percent tax increase on property within the downtown area, in addition to regular taxes. The extra money would be used to hire a director to oversee downtown development and help keep businesses in the area.
Although trustees recently agreed to hire an economic development director for the entire village, the concentration of businesses in the downtown area require someone’s full-time attention, said Wallis Johnson, Downers Grove Chamber of Commerce spokesman and owner of the Tivoli Theater at 5201 Highland Ave.
A 1.5 percent cap would keep tax hikes in the district to a minimum, proponents said. The district would be regulated by a board of directors consisting of four property owners, four building tenants, one resident, one village employee and the Chamber of Commerce president.
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Many residents and business owners said taxing apartment building owners or residents in the area is unfair.
But if the district excluded residential properties, businesses could move into or build on those properties in the future and be exempt from the levy, Johnson said.
Village trustees held a hearing on the issue Oct. 10. Opponents of the district have 60 days after the hearing to defeat the plan by obtaining signatures on a petition from 51 percent of the area’s property owners and registered voters.