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RDA tables release of TIF funds to Zion Mountain over delinquent property taxes
Summary
The Kane County Redevelopment Agency tabled a request to release $152,436.65 in TIF funds to the Zion Mountain Local Service District after staff reported $340,562.24 in delinquent property taxes in the district and uncertainty about whether available TIF revenue could cover tax liens.
The Kane County Redevelopment Agency on May 26 postponed a decision to release tax-increment financing (TIF) funds to the Zion Mountain Local Service District after members raised concerns about unpaid property taxes in the district.
Chair said the board had collected $152,436.65 in TIF revenue for the project area but heard that 340 property owners in the district were delinquent on taxes, owing $340,562.24. "I think we definitely should not pay it until the taxes are paid," the Chair said, arguing the agency should withhold payment until the district resolves delinquencies.
Clerk Shamil Lam provided a breakdown of the collected funds: "The total amount of revenue that we have for this project area has been $152,436.65," he said, with allocations of 2.5% for administration ($3,810.92), 10% for housing (split into workforce housing and other authorized projects totaling $15,243.67) and the remainder (about $133,382.06) earmarked for project development and first applied to debt service for the visitor center.
Dirk, a consultant with the Zion Mountain Local Service District, described a cash-flow problem where bond and loan obligations have exceeded collections and urged the RDA and district to coordinate next steps. "This local service district has definitely been starving for funds and would appreciate a release of the funds that have been collected," Dirk said, while acknowledging new state rules that require some agreement amendments.
After discussion, the Chair moved to table the matter for further conversation with the Zion Mountain Local Service Board; the motion passed on a voice vote and the board agreed to schedule a coordination meeting to explore how and when the funds should be released.
