Development News for Park Forest, Illinois

Park Forest Residents Inquire About Business Attraction and TIF Districts

During the public comment period, resident Sierra Floyd inquired about the existence of a committee or dedicated individual responsible for attracting new businesses to Park Forest, citing the village's difficulty in retaining businesses and long-term residents. Village Manager John Kinzick indicated that while there isn't a specific committee, residents can speak with him after the meeting. Floyd expressed interest in volunteering her research skills to assist the village in this endeavor. Separately, Reverend Franklin Morris inquired about the current status of Tax Increment Financing (TIF) districts for Park Forest businesses, to which the village attorney had previously noted that the village has two TIF districts, though very few properties are included. Residents were directed to speak with Manager Kinzick for further information on TIFs.

Park Forest Board Reviews Proposed $73 Million Budget with Focus on Capital Improvements and Police Funding

The Village of Park Forest Board of Trustees conducted a public hearing and first reading for the proposed 2026-2027 fiscal year budget. The budget outlines expenditures of $36,129,129.526 for the general fund with projected revenues of $32,075,080, resulting in a projected deficit of approximately $4 million, to be funded by capital projects. This will leave a reserve of 4.8 months. Total expenditures for all funds, excluding the library, are projected at nearly $73 million, with revenues near $74 million. The budget includes historic levels of capital improvements, totaling $28 million, encompassing facility repairs, police and fire equipment, road improvements, downtown enhancements, the Aqua Center redevelopment, and water/sewer system upgrades. The budget also addresses an increase in the police budget of $2 million, attributed to adding a sworn officer, a records clerk to handle FOIA requests, and new technology. The village has two TIF districts used for incentivizing business and housing development.