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Council committee declares $533,429.50 in TIF surplus to taxing districts
2425884 · February 27, 2025
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Summary
Finance staff reported TIF surplus distributions totaling $533,429.50 for the city's redevelopment project areas; the resolution to declare the surplus passed at committee.
The Finance and Administration Committee adopted a resolution declaring a surplus of funds in the city's Tax Increment Financing (TIF) allocation funds and authorizing distribution of $533,429.50 to the affected taxing districts through the county collector.
Why it matters: under the Illinois Tax Increment…
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