Tax Incremental Finance District #1
The Village of Bellevue has long recognized that the area surrounding the interchange of State Highway 172 and County Highway GV (Monroe Road) would be the commercial center not only for the Village of Bellevue but for the metro area east of the Fox River. A number of projects have been proposed throughout the years in this area but failed to materialize. The Village Board determined that the creation of a Tax Incremental Finance District (TID #1) was an option to help stimulate development. In 2013 the Village created TID #1 and secured the first user for the area (Costco) to be the anchor of the triangle. TID #1 is envisioned to be a mixed-use development area with retail, commercial, residential, and other complimentary uses but is just a small part of over 500 acres of developable land in this area.
- Phase II of TID #1 which will include the construction of Town Hall Road from CTH GV to CTH V and related public infrastructure has yet to be scheduled but is anticipated to occur during the life of the district. It will likley depend on a project driving the installation.