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Orland Park trustees approve new school IGA, move to end Main Street TIF early
Summary
Trustees approved a new intergovernmental agreement with two school districts, adopted a resolution to transfer Main Street TIF funds into the downtown TIF to pay outstanding debt, and voted to discontinue the Main Street tax increment financing district, returning new incremental value to all taxing bodies.
Orland Park trustees voted unanimously Tuesday to approve a new intergovernmental agreement with Orland School District 135 and Consolidated High School District 230, and to discontinue the Main Street tax increment financing (TIF) district early, officials said.
The board approved an agreement described in the meeting as the “2025 A IGA,” which the village manager said is intended to replace an earlier 2007 agreement and clear outstanding claims between the village and the two school districts. Under the plan discussed at the meeting, revenues remaining in the Main Street Triangle TIF will be transferred to the downtown Orland Park TIF to pay down outstanding debt, and the Main Street TIF will be dissolved so its increment becomes available proportionally to all taxing districts.
The village manager told trustees the Main Street Triangle TIF was created in 2004 and amended…
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