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Montgomery board approves $660,053 rebate from Orchard Road TIF 2 and waives 14-day objection period
Summary
Trustees approved a $660,053 distribution from Orchard Road TIF 2 incremental revenue to overlapping taxing districts, retaining $1,532,119 in the TIF for projects; the board waived the 14-day objection window and will proceed immediately.
The Village of Montgomery approved a rebate distribution from Orchard Road Tax Increment Financing District No. 2 after a staff presentation on levy-year 2024 collections.
Director Minnick said the TIF generated $2,192,172 in incremental revenue for levy year 2024 and staff proposed rebating $660,053 to overlapping taxing districts, leaving $1,532,119 for authorized projects or future debt service. Minnick told trustees the proposed distribution followed the joint review board meeting on Dec. 11, 2025, where no objections were raised.
A trustee asked whether the board had a district-level breakdown of the $660,053; Minnick said the county treasurer prepares the distribution breakdown and the village does not calculate each district's share. The board voted to approve the rebate and to waive the 14-day objection period so payments could be remitted immediately; the motion carried 6'0''00.
Staff will remit the rebated amount to the county treasurer to process payments to the individual districts in accordance with state TIF statutes.
