April 12, 2024: Downtown TIF Redevelopment Plan made available for inspection and review at the office of the City Clerk (HUB).

April 29, 2024: A Public Meeting was held at the Government Center in the 400 Room. Notices for this meeting were sent on April 12, 2024.

May 13, 2024: Ordinance No. 2024 - 034_ Set a date for, and approved a public notice of a public hearing for the Potential Downtown Redevelopment Project Area. 

June 3, 2024: Joint Review Board (JRB) Meeting Date. 

June 20, 2024: Joint Review Board (JRB) Meeting Date.

July 1, 2024: Joint Review Board (JRB) Meeting Date.

July 8, 2024: Public Hearing for Potential Downtown Redevelopment Project Area.

July 22, 2024: Ordinance No. 2024 - 054_PDFA_Termination of the Downtown - Southwest TIF District.

July 22, 2024: Ordinance No. 2024 - 055_PDFA_Approving the Downtown TIF Redevelopment Project Area Plan and Project.

July 22, 2024:Ordinance No. 2024 - 056_PDFA_Designating the Downtown TIF Redevelopment Project Area.

July 22, 2024: Ordinance No. 2024 - 057_PDFA_Designating Tax Increment Allocation Financing for the Downtown Redevelopment Project Area. 

1. Can the "Site Improvement" incentive be used for any environmental clean up, if needed?
   1. Yes, that would include demolition and removal of harmful materials, professional services, and creation of an engineered barrier (if necessary) to contain environmental contamination. More information can be found in the Illinois’ Tax Increment Allocation Redevelopment Act (65 ILCS 5/11-74.4-1 through 11-74.4-11, section (q)).
2. Can a property owner opt out of the TIF? Specifically a vacant building property owner?
   1. No, property owners cannot opt out of the TIF. The TIF District boundaries, and all the property therein, will be approved or rejected by the City Council.
3. Has the City already decided what priorities it will spend the money on?
   1. The City is expecting to use the increment funds to assist with the redevelopment of the Downtown area and promote and protect the health, safety, morals, and welfare of the public by removing or alleviating adverse conditions in a targeted area through inducing private and public investment with the ultimate goal of restoring and enhancing the tax base in the area. The Estimated Redevelopment Project Costs outlined in Exhibit H in the Redevelopment Plan are based off of recent TIF incentive analyses and the expertise and past experience of the consultants who drafted the plan. 
4. What about the School District? How does the School District feel about the TIF?
   1. The School District, along with all other affected taxing bodies, will meet for the Joint Review Board meeting at 9:00a.m. on June 3rd, 2024 in the Government Center Boardroom at the Government Center to discuss the proposed Downtown TIF District. This meeting is open to the public.
5. How will the City decide how to allocate the funds?
   1. The City will evaluate projects on a case by case basis and will follow the guidelines outlined in the Economic Development Incentive Guidelines (Adopted October 22, 2012 - Resolution 2012-34).
6. Are there examples of financing structure or business plans that can be shared to help people wanting to take advantage of the TIF? So people know how to expect to finance a TIF project?
   1. Examples of previous Redevelopment Agreements that the City has entered into with both private and public entities can be found on our website in their respective Council Meeting packets.
7. What costs are eligible? Specifically when it comes to vacant lots?
   1. The eligible uses for TIF funds are provided in Illinois’ Tax Increment Allocation Redevelopment Act (65 ILCS 5/11-74.4-1 through 11-74.4-11, section (q)). Specific for vacant lots, eligible costs may include property acquisition, demolition, and site preparation costs, though all potential eligible costs will need to be reviewed for eligibility. Generally speaking, new construction costs are not eligible for TIF funding.
8. When will the TIF go into effect?
   1. The proposed Downtown TIF District will go into effect once the City Council approves the ordinance. This could be as soon as July, 2024.
9. How does this compliment or compete with the one currently in place or did that expire? Are the boundaries the same?
   1. The current Downtown Southwest TIF District is expected to be dissolved and incorporated into the new proposed Downtown TIF District. The Downtown East Washington Street TIF District will not be disturbed.
10. Since [citizens] have seen [their] property taxes increase substantially (doubled, roughly) in the past few years, is there understanding from the city that the tax base has already increased recently?
    1. There is no tax increase or tax rate associated with the implementation of a TIF District. The City believes this proposed TIF District will be a tool for redevelopment for both private and public investment that will work to enhance and stop deterioration of the Downtown Area.
11. What specifically is the proposed tax rate increase?
    1. There is no tax increase or tax rate associated with the implementation of a TIF District. The new property tax bills will show the Downtown TIF with a tax rate of 0.0000. The amount listed is the amount of the tax bill going into the special allocation fund, or the 'increment'.
12. Could [we] have clarification on how increasing the taxes of residences within the boundary map would: promote and protect the health, safety, morality, and welfare of the public?
    1. There is no tax increase or tax rate associated with the implementation of a TIF District.
13.  I have received a notice saying I am not in the TIF boundaries, what does this mean for me?
    
    1.  State statute requires the City provide notice to all residential addresses within 750 feet of the proposed TIF boundaries. This notice lets residents know where to find the proposed TIF redevelopment plan. As the address is not located within the proposed TIF boundaries, there will be no change to your property tax bill. There is no tax increase or tax rate associated with the TIF for those in the proposed TIF boundaries or within 750 feet of those boundaries. 
14. Why are tax-exempt properties included in this TIF District?
    1. One of the goals for the Downtown TIF District is for some of the tax-exempt properties to be redeveloped into productive uses and go back on the tax rolls. Additionally, as TIF Districts typically last for a 23 year period with options to extend, the City wants to prepare for future development opportunities should any other tax-exempt properties, such as government buildings, become private developments.