TIF Joint Review Mtg - Dec.5, 2016
Call to order at 5:30 pm by President Knoup.
Meeting was then turned over to TIF Attorney, Herb Klein
TIF Annual Joint Review for 2015.
Attendance was noted from the sign in sheet.
Taxing bodies represented were The Village of Pearl City, Library, Stephenson County and Loran Township.
A copy of the Summary was provided for all attendees. (Refer to summary for final figures)
This review was for tax year 2014 paid in 2015.
There were no noted boundary changes in the TIF district. This TIF has 3 years remaining with final payments payable in 2020.
The Village is in the process of a TIF Extension that would run until 2031
Herb noted that if expenses exceed the original quotes then the Village will need to update the plan and notify the taxing bodies.
The extension will allow the current agreements with the taxing bodies. No changes will be made until we receive notification of the approved extension. This will be introduced in the spring session.
No questions from the members in attendance.
Motion to adjourn at 6:00 by Ron Kane
Second by Bob Marv Edler. Motion carried.
Attest: Cheryl Liebenstein, Village Clerk