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County staff briefs finance committee on TIF districts; explains rebates, surpluses and reporting timeline
Summary
A county staff member briefed the LaSalle County Finance Committee on tax-increment financing (TIF) districts, saying the county has 37 TIF districts and intergovernmental agreements with 31; staff explained the difference between rebate payments (restricted to capital projects) and surplus payments (unrestricted).
Julie, a county staff member, briefed the LaSalle County Finance Committee on Feb. 4 about tax-increment financing (TIF) districts across the county and the county’s process for receiving and distributing TIF funds.
Julie said LaSalle County has 37 TIF districts and intergovernmental agreements with 31 of those districts. She described two kinds of county receipts from TIFs: rebate payments, which must be spent on capital projects by the county, and surplus…
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