Hoping to attract more economic development to the area of North and Harlem avenues, Elmwood Park has created a special tax district.
At the March 2 Elmwood Park Village Board meeting the board approved several ordinances designating the area as a tax increment financing district, or TIF. The TIF stretches from Wabansia Avenue on the north to North Avenue on the south, and from Harlem Avenue on the east to 72nd Court on the west.
Peter Volpe, president of the village of Elmwood Park’s Economic Development Commission, said a Mariano’s Fresh Market possibly moving across the street to the current Sears site would attract a lot of people who could flow west into the TIF district.
“It’s going to be a real hot spot,” he said.
A new First Merit Bank has been built in the TIF district, replacing a former branch from the same company, and a Walgreens is being torn down and rebuilt as well. Volpe said the commission is wide open in terms of what other businesses should go there.
“Basically, we are looking for a business to compliment the other businesses right now,” he said. “We’re open to all different ideas.”
Elmwood Park Trustee Angelo Lollino, liason to the village’s Economic Development Commission, said he’d like to see a diverse cluster of businesses in the area.
“To make it a nice little lifestyle center would be great,” he said. “It would be nice to have a health club, restaurants and different retail there.”
Volpe said they’re going to make the space clean and attractive to attract development proposals. He also would like to hear from the community as well.
He said all are welcome to their meetings. The next Elmwood Park Economic Development Commission meeting is scheduled for 7 p.m. March 19 at Elmwood Park Village Hall, 11 Conti Parkway.
“We’d like to hear what our residents would like to see,” he said.