Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Tax Policy Tif topic
No spam. Unsubscribe anytime.
Resident tells council TIFs amount to 'fake economic development,' says taxpayers paid millions
Summary
At the June 16 meeting, resident Bob Sver told the Warrenville City Council that tax increment financing (TIF) arrangements have produced 'fake economic development' and shifted tax burdens to existing taxpayers, claiming an accumulated impact over 15 years of roughly $10 million; staff did not rebut the claim during the meeting.
During the public‑comment portion of the June 16 Warrenville City Council meeting, resident Bob Sver of Albright Court criticized the city’s use of tax increment financing, saying it has increased property‑tax burdens on longtime residents.
Sver told the council the apparent discrepancy between the levy and actual property‑tax revenue is driven by what he described as "fake economic development" that produces no new taxpayers or brick‑and‑mortar investment. He asserted that "over the last 15 years, accumulated 10 million dollar from fake development" and recounted an anecdote involving a local official and a $500,000 payment, quoting the official as saying, "if someone is going to give me $500,000, I'm going to take it." Sver said he will present two additional reasons for the revenue discrepancy at a future meeting.
The statement was delivered as public comment and was not followed by staff rebuttal or supporting documentation during the meeting. The council did not take action in response to the comment but proceeded to routine agenda business.
