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Board hears lawyers and residents debate Crown TIF in Sugar Grove; no vote taken
Summary
Kaneland CUSD 302 received a legal briefing about Sugar Grove’s Crown TIF and a village-drafted intergovernmental agreement that would allocate impact fees, school land-cash fees and a share of a proposed TIF surplus to taxing bodies.
Kaneland CUSD 302 attorneys briefed the board on the village of Sugar Grove’s proposed intergovernmental agreement tied to the Crown Community Development tax-increment financing (TIF) plan and residents urged the board to reject the IGA and consider legal action.
Attorney Jim Flory summarized terms the village and developer have offered the district if the board signs an intergovernmental agreement: reimbursement of certain school-impact and land-cash fees, a share of a proposed TIF surplus (10% allocated among taxing districts) and a structure for tuition payments tied to new students from the TIF area. Flory said the package, as presented, has an estimated combined value the village characterized at roughly $125 million over the TIF’s anticipated life; he said the component that departs from the usual statutory formulas is an agreement to pay district tuition for any new…
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