Palatine will return $3 million to various taxing bodies due to surpluses in two of the village’s Tax Increment Financing (TIF) districts. A $1.5 million surplus exists in both the Rand Road Corridor TIF Fund as well as Rand/Lake Cook TIF Fund. A TIF is an economic redevelopment tool used by communities to spur investment
The Park Place Shopping Center in Palatine will receive a multimillion dollar makeover. The Palatine village council this week authorized Mayor Jim Schwantz to execute a redevelopment agreement for facade improvements and other upgrades at the shopping center, 1365 N. Rand Road.