Community > Wheeling Circular/Village Views
A lot of the information in our Wheeling Circular (formerly known as Village Views) newsletter can be found in various places throughout our website. This page will feature an article from the most recent issue. We also have an archive of past newsletters available in our Reference Desk section. Click here to go to the Archive page.
September - October
From the Desk of President Dean S. Argiris
It is with great satisfaction that I can report that the Village is
proceeding with our important downtown developments around the Wheeling
Metra Station. The Village worked collaboratively with the local taxing
districts to negotiate an intergovernmental agreement to share property
tax revenues and pave the way for over $150 million in new development.
This agreement has prevented costly litigation that would have likely
driven these new developments away. The Village and the taxing districts
worked tirelessly over the past few months to allow
Without getting too deep in the financial weeds, the Village, High School District 214, School District 21, the Wheeling Park District, and the Indian Trails Public Library achieved a compromise over the flow of tax revenues during the life of a pair of 23-year Tax Increment Financing (TIF) districts formed to make the new developments possible. Suffice it to say, the negotiations were spirited, with all parties advocating passionately for their positions. On July 21, we reached a tentative intergovernmental agreement, and the respective governing boards of all parties are in the process of approving the agreement as this newsletter goes to press. Special thanks are due to State Representatives Elaine Nekritz, Carol Sente, and David Harris, who helped forge the agreement and kept all parties focused on the big picture.
With those hurdles cleared, the Village Board approved two formal redevelopment agreements regarding major upcoming projects. The first, approved on July 21, was an agreement with Reva Development Partners to build Northgate Crossing, a $50 million, 288-unit luxury apartment project on the former Kenny Construction site near the center of town. The second, approved on August 4, was an agreement with Urban R2 for the bulk of the Town Center development just east of the Metra station.
The most visible part of the 17-acre Town Center will be 95,000
square feet of retail space on the old Wickes Furniture site next
The Village Board also approved a second TIF district for future
development near Chicago Executive Airport. This is an area of town that
has been long overlooked for development, and now is the time. The
airport is a major asset for the village, with the businesses on our
side of the airport generating a total of $1,205,000 per year in sales
and property tax revenue for all Wheeling taxing districts. Of that
amount, the Village of Wheeling receives approximately $455,000
per year, which includes the sales tax
Recently it was announced that the airport is in the process of updating their Airport Master Plan. To be eligible to receive Federal Airport Improvement Program funding, the airport is required to maintain and periodically update the Airport Master Plan and Layout Plan, as specified by the FAA. The goal of a Master Plan is to provide the framework needed to guide future airport development that will cost-effectively satisfy aviation demand, while considering potential environmental and socioeconomic impacts. Per FAA guidance, periodic updates of Master Plan elements are typically needed on a five-year cycle for active airports similar to Chicago Executive. While a number of updates and studies have been conducted at Chicago Executive since acquisition by the Village of Wheeling and City of Prospect Heights in 1986, the full Master Plan was completed over 30 years ago. If we are to see what the full potential of the airport can be, this study is absolutely necessary. Any potential development that comes as a result of TIF district funds or the airport Master Plan will need to be approved by both the Wheeling Village Board and the Prospect Heights City Council, both of whom will seriously consider any and all potential impact to their residents.
As I said in a previous newsletter column, I have always believed
that economic development is both a team effort and vital piece to
Wheeling’s future. Those two principles have come clearly into focus
during our successful negotiations with the taxing
In closing, I’d like to give big thank you to our local businesses
who contributed to our July 3 Evening Under the Stars fireworks