Jack B. Teplitz & Associates
Attorneys at Law
331 Fulton Street, Suite 620
Peoria, IL 61602
Phone: (309) 637-3800
Fax: (309) 637-3888
Email Us Now!
Mr. Teplitz was a co-drafter of the Tax Increment Financing Act in Illinois. He was one of the principal lobbyists when the Act was adopted by the General Assembly of the State of Illinois and has been involved in every major change to the legislation since its adoption in 1978. Mr. Teplitz also participated in the test case of Canton v. Crouch before the Illinois Supreme Court which upheld the constitutionality of the Tax Increment Financing Act.
Illinois Tax Increment Association
Mr. Teplitz is a founding member of the Illinois Tax Increment Association (ITIA) and has served on its Board of Directors since its inception. The ITIA is recognized as the leading organization in the State of Illinois with regard to the utilization of tax increment financing. Mr. Teplitz is a frequent lecturer at ITIA conferences on various aspects of the TIF Act.
Peoria Med-Tech District
Mr. Teplitz drafted the Peoria Medical and Technology District Ordinance which established a Med-Tech Commission consisting of major institutions such as hospitals and universities, business people, and residents located in a 700 acre area. The Ordinance called for the establishment of a high technology corridor as well as providing the standards for adopting a comprehensive plan for the redevelopment of the entire area. The Ordinance also created the zoning, planning and urban revitalization mechanisms for the implementation of the Med-Tech Plan.
Tax Increment Projects
Mr. Teplitz has been involved in major tax increment projects in Springfield, Illinois, Bloomington, Illinois and Peoria, Illinois among others over the past twenty years including the Downtown Stadium Project in Peoria, Illinois which involved the construction of a minor league professional baseball stadium and the City of Elmwood, TIF No. 1 which involved a residential subdivision development.
Mr. Teplitz has authored and negotiated numerous redevelopment agreements between private parties and municipalities with regard to redevelopment projects within TIF Redevelopment Project Areas.
Mr. Teplitz was retained to prepare the tax increment plan for the renovation of downtown Normal, Illinois, the home of Illinois State University. In addition, he is advising the Town on all related redevelopment matters including a $75,000,000 plus Marriott hotel and conference center and a 500 car parking deck. The plan also includes over 600,000 s.f. of commercial, residential and institutional development including a $20,000,000 multi-modal transportation facility. Finally, his duties include advising on state and federal funding opportunities and other redevelopment activities.
In addition to his experience in economic development and TIF matters, Mr. Teplitz also has direct experience with both public and private development. He co-drafted the major amendments to the Illinois Metropolitan Civic Center Support Act which permitted funding for downstate civic centers. He was the principal author of the fifty-six million dollar financing plan for the construction of the Peoria Civic Center including the obtaining of a twenty million dollar grant from the State of Illinois. In addition, as part of the Civic Center project, he had the responsibility for the acquisition of six square blocks in downtown Peoria and the negotiation of contracts with an internationally recognized architect and construction manager. Mr. Teplitz has also been involved with numerous municipal issues including the development of Home Rule under the Illinois Constitution.
Corporate and Transactional Matters
Mr. Teplitz has handled numerous business and corporate matters including those involving corporations, limited liability companies, partnerships and proprietorships. He also has drafted many agreements and other transactional documents.
Mr. Teplitz has also been involved in the development, construction, leasing and management of retail commercial centers. In addition, he has represented a number of private developers. This gives him a unique understanding of the needs and requirements of the private sector and how they relate to a public/private partnership in the fields of urban revitalization and economic development.
Public and Private Financings
Mr. Teplitz has been involved with numerous public and private financings. He was, at one time, a nationally recognized Bond Counsel.
Mr. Teplitz is a twenty year resident of Peoria's oldest historic district and is the author of Peoria's home rule historic preservation ordinance which has successfully led to the urban revitalization of certain areas of Peoria's inner city. In addition to being a former Corporation Counsel for the City of Peoria, he is a past Chairman of the Peoria Housing Authority and the past Vice Chairman of the Peoria Civic Center Authority. He has previously served as the Chairman of the Local Government Committee of the Illinois Bar Association and the Chairman of the Municipal Bond Committee of the International Municipal Lawyers Association (formerly known as the National Institute of Municipal Law Officers). He was a founding member of and is currently serving on the Board of Directors of the Illinois Tax Increment Association."
Our mission at Jack B. Teplitz & Associates is to provide each client dedicated, personalized professional services.