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Elgin school board backs letter supporting 12‑year downtown TIF extension
Summary
The Elgin Area School District U‑46 board moved to approve a resolution authorizing submission of a letter of support for a 12‑year extension of the Downtown Elgin tax increment financing district and identified planned uses for the district's anticipated increment share.
The Elgin Area School District U‑46 Board of Education moved to approve a resolution authorizing a letter of support for a 12‑year extension of the Downtown Elgin tax increment financing (TIF) district.
The resolution, presented June 9, would authorize Dr. Johnson to submit a letter of support for the city of Elgin’s request to extend the central‑area TIF, which was created in 2002. Dr. Anne Williams, deputy superintendent of operations, told the board the Downtown Elgin TIF covers more than 1,000 acres and that TIFs “allow cities to reinvest increased property tax revenue called the increment back into the…
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