• No new taxes to support the development
• $329,000 in projected sales, utility and parking tax revenues
• $2,400,000 increase in property tax revenues accruing
• discount hotels in SiofokCreation of 200+ jobs and increased economic activity
• Ancillary development within the TIF district and surrounding areas
• Increased city identity
• Civic pride

We sure didn't raise or create any new taxes. Prospect Heights Arena will be financed through a Tax Increment Financing (TIF.), the City of ProspectHeights is able to utilize income generated in a specific area to pay forcertain public improvements to encourage and facilitate development thatwould not occur if not for TIF. assistance.

When the TIF financing is repaid, all taxing districts in the city willreap the benefits of a substantial increase in taxable property. The ProspectHeights Arena is projected to generate over 2 million dollars in new propertytax revenues and over $300,000 in sales, utility and parking tax revenues.By agreement, the City is to receive a guaranteed minimum of $350,000 inparking revenues per year, from the Arena.