Water Street TIF District

A Tax Increment Financing (TIF) Feasibility Study for the Water Street Area was conducted in 2002 which showed the area was qualified for eligible expenditures, including public improvements that could be funded under the TIF Act. A Water Street Vision Statement (PDF) was drafted and a Joint Review Board was established to create the proposed Water Street Tax Increment (TIF) District.

The Water Street TIF District was approved in 2007. The ordinances creating the district are listed below:

On Feb. 17, 2015 the Naperville City Council passed Ordinance 15-026 extending the Water Street TIF District term by a period of seven years, providing for a total term of 30 years.

Joint Review Board

The Illinois State Statute requires each TIF District to conduct a meeting of the Joint Review Board (JRB) to review and approve each annual fiscal year report submitted. The 2024 meeting took place on Monday, Aug. 26, at 2:30 p.m. in the NEU room of the Naperville Municipal Center, 400 S. Eagle St.

View the 2024 Joint Review Board Meeting Agenda and Packet

Copies of meeting minutes from the last three years are provided below.

Water Street Development Proposal

The Water Street Preliminary P.U.D. proposed by Marquette Property Investments Inc, was approved by the City Council on Nov. 6, 2007.

A Major Change to the Water Street Final P.U.D. and other zoning approvals were approved by the City Council on Nov. 5, 2014 by Ordinances 14-168, 14-169, 14-170, and 14-171.

The Water Street Major Business Terms were approved by Resolution 14-042 on Nov. 18, 2014. The Water Street Agreements, including Redevelopment Agreement, were approved on Feb. 17, 2015, by Ordinances 15-027 through 15-031.

Get Involved

If you or your organization would like to register on the Interested Parties Registry please complete the Water Street TIF Registration Form (PDF). Rules governing this Registry can be viewed at Water Street TIF Interested Parties Registry Registration Rules (PDF). Please also note the Public Notice Establishing the Water Street Registration Registry (PDF).

TIF Annual Reports

Naperville Municipal Center