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Board approves forwarding Triple Lakes TIF intergovernmental agreement and supports CDBG application
Summary
Trustees voted to forward a resolution approving an intergovernmental agreement on how Triple Lakes TIF revenues will be distributed and to support a Saint Clair County CDBG application, noting CDBG funds will be repurposed for street projects in targeted areas.
The Village of Swansea board reviewed and voted to forward a resolution that formalizes how tax increment financing revenues associated with the Triple Lakes redevelopment will be distributed among the village and underlying taxing districts.
Staff explained the intergovernmental agreement establishes the distribution and use of TIF revenues as part of the original redevelopment plan. The administrator reported he has discussed the agreement with relevant school superintendents; one has already passed the agreement and two others expect to act in March.
Separately, the board approved forwarding a resolution supporting a Saint Clair County Community Development Block Grant (CDBG) application. Staff said the village intends to repurpose this year's CDBG application toward street projects in qualifying low‑income census tracts rather than sewer lining, and that the format of the resolution follows county requirements.
Both resolutions were forwarded to the board for consideration and passed on roll call. Trustees asked for clarity on geographic constraints for CDBG eligibility and were assured the grant can only fund infrastructure within designated socioeconomically depressed areas.
No financial commitments beyond forwarding the resolutions were made at the meeting; staff will return with final documentation and any intergovernmental signatures needed.
