The village of Brookfield is on the verge of acquiring two parcels of land that formerly served as the parking lot for the long-shuttered Brookfield Bowl, 3415 Maple Ave.
During a Sept. 26 court hearing, a Cook County Circuit Court judge indicated that the village ought to be able to obtain title to the 6,250-square-foot parking lot through the county’s No-Cash Bid Program.
Brookfield’s village board gave the green light to acquire the property through the county program in September 2015. The same process was used when the village acquired the bowling alley building in 2014. The parcels comprise an important redevelopment location in the Eight Corners business district.
Also in November, the Brookfield Village Board is expected to vote to create the Eight Corners Tax Increment Financing (TIF) District to both encourage new development within the TIF boundaries, which include the commercial properties at and near the Memorial Circle where Broadway Avenue, Maple Avenue, Washington Avenue and Grand Boulevard all converge.
Brookfield officials have been working through the TIF creation process for more than a year. Last month, the village held a required public hearing and convened a joint review board featuring representatives from all taxing districts that are part of the TIF district.
The joint review board gave the TIF a thumbs up. The village board will discuss the formation of the Eight Corners TIF again at their Oct. 24 committee of the whole meeting, and are slated to vote to create the TIF district at their Nov. 14 meeting.
“The timing is pretty good so the TIF will go live if the board supports it at the same time the status of the two parking lot [parcels] is decided,” said Nick Greifer, the village community and economic development director. “A key part of the TIF is the bowling alley.”