Advanced Search

Evanston RoundTable | Evanston, IL
The Weather Network
Ice House Gallery


home : city news : city news
December 11, 2018

11/28/2018 2:16:00 PM
Joint Meeting on TIFs

Correction: The meeting has  been rescheduled. The date, as originally posted online and printed in the Nov. 29 edition, stated the meeting would be on Dec. 14 in room G300 of the Civic Center.
The new date and place are Dec. 13 in Room 2402 of the Civic Center. The time, 9:30 a.m., remains the same.

The annual Joint Review Board meeting will be held at 9:30 a.m. on Dec. 13 in Room 2403 of the Morton Civic Center, 2100 Ridge Ave.

At that meeting, there will be an update on each of the City’s five active tax-increment financing, or TIF, districts: Howard and Ridge, West Evanston, Dempster-Dodge, Chicago-Main and Washington National. The Washington National TIF is set to retire this year.

The Joint Review Board is composed of representatives of all taxing districts with a stake in the City’s TIFs. Among these taxing bodies are School District 65, School District 202, Oakton Community College, the North Shore Mosquito Abatement District and the City of Evanston.

In a TIF district, the base amount of property tax revenue – that is, the amount of tax revenue generated by the property when the TIF was created – is distributed to the taxing bodies as always. The tax increment – the difference between the base revenue and the amount generated on the property as improved – remains in the TIF during its 23-year lifespan, to be used on public improvements there. As examples, the City used funds from the Washington National TIF to rehab Fountain Square.

When a TIF is retired – as the Washington National TIF will be at the end of this year – the surplus funds are divided proportionally among the taxing bodies on the property tax bill. All property tax revenues generated after the TIF retires are also allocated according to each taxing body’s share of the property tax bill.

The updates will include for each TIF the base valuation, the current valuation, economic activities undertaken and the surplus or deficit.







Article Comment Submission Form

The RoundTable will try to post comments within a few hours, but there may be a longer delay at times. Comments containing mean-spirited, libelous or ad hominem attacks will not be posted.

Note: Your full name is required. Your telephone number and e-mail will not be posted. You may type your comments in the space below, or you may type them in a word document and cut and paste them in the space below.

Submit an Article Comment
First Name:
Required
Last Name:
Required
Telephone:
Required
Email:
Required
Comment:
Required
Passcode:
Required
Anti-SPAM Passcode Click here to see a new mix of characters.
This is an anti-SPAM device. It is not case sensitive.
   



Click to View Upcoming Events
<December>
SMTWTFS
            1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31          
Submit Event







HomeVideosCommunity PostsObituariesClassifiedsAdvertiseAbout UsContact UsLife
Copyright 2008-17 - Evanston RoundTable LLC, Evanston, IL 60202, 847-864-7741, All Rights Reserved


Software © 1998-2018 1up! Software, All Rights Reserved


: