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Board approves proposed TIF districts, contingent on intergovernmental agreements
Summary
The Mount Vernon District 80 board voted unanimously to approve two proposed tax increment financing (TIF) districts and extend an existing TIF, contingent on intergovernmental agreements and extension agreements, after a presentation from the City of Mt. Vernon.
Nathan McKenna of the City of Mt. Vernon presented details on two proposed TIF districts and the extension of an existing TIF to the Mount Vernon City Schools, District 80 Board of Education. After questions from board members, Matt Flanigan moved to approve the proposed TIF districts contingent on approval of intergovernmental agreements and extension agreements; the motion passed unanimously. Roll call recorded Ayes: Flanigan, Blok, Nunnery, Daniels, Reynolds and Jackson; Nays: None.
The board did not adopt any intergovernmental agreements at the meeting; the approval recorded by the board conditions final district creation on completion and approval of those agreements and any required extension paperwork. The action was processed as a governing-board motion and does not itself change district tax boundaries until the related agreements are finalized.
