LITH Approves Economic Incentives for Routes 31, 47 Corridors

The LITH Village Board approved an Economic Incentive Policy in an effort to lure businesses to prime property along routes 31 and 47.

  Lake in the Hills leaders have their eyes on properties within the village that hold potential for economic development: Routes 31 and 47. However, both areas have parcels currently void of water and sewer services. In an effort to encourage development in the routes 31 and 47 corridors, the LITH Village Board last week approved an amendment to its Economic Incentive Policy. The amendment establishes a sales tax sharing program and offers a 50-percent reduction in permit fees for an 18-month time period. "We as a government are trying to make it easier for businesses to locate there," said Gino DiVivo, economic development coordinator for LITH. On the village's far east side, DiVivo said the market conditions are trending toward retail …

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