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Board raises concerns about proposed TIF 2 and village reserves
Summary
Board members expressed skepticism about the need for a proposed TIF 2, citing the village's strong fund balances—particularly water and sewer reserves—and questioned whether projected capital needs justify creating a TIF.
Board members reported attendance at a recent village meeting on TIF 2 was limited due to a school Showcase Night and raised concerns about whether TIF 2 is necessary given the village’s reported strong fund balances and reserves.
Members contrasted the village’s reserve position, especially in the water and sewer fund, with the district’s tighter cash flow and reliance on property tax timing. They questioned the scale and projected benefits of the proposed TIF, noting that many proposed projects appear to be infrastructure improvements and that the projected capital costs seem lower than current reserves. The district plans to communicate updates in the Tiger Times and monitor village actions.
Board discussion was skeptical of TIF 2's necessity; no formal district action was taken at the meeting, though members asked staff to keep the issue on future agendas and provide information to the community.
