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Elmhurst staff says TIF funds will help bridge $10–12M metro‑station gap; council questions fiscal exposure
Summary
Council discussed TIF 6 funding for a proposed metro station and downtown improvements; officials said a $10–12 million shortfall exists and staff proposed general‑obligation bonds repaid with future TIF increment, prompting questions about repayment timeline and whether the station directly generates increment.
City staff told the Committee of the Whole that the metro‑station project is a major planned TIF 6 expense in the proposed FY2026 budget and that the project creates a funding gap estimated at roughly $10–12 million.
Director Coyle explained the TIF 6 entries include building improvements and property acquisition for the metro station, and the budget also anticipates debt service on future general‑obligation bonds that the city would issue for Elmhurst’s share of the project. "We have…
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