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Council approves TIF incentive to repay daycare loan for Shimer Square project
Summary
The council approved TIF Incentive Ordinance No. 2025-05-03 to use TIF funds to pay the $376,000 loan for the Shimer Square Daycare Center; the motion passed unanimously (6–0).
The Mount Carroll City Council voted to approve Ordinance No. 2025-05-03 on May 13, authorizing use of TIF funds to pay the $376,000 loan tied to the Shimer Square Daycare Center.
Mayor Carl Bates reviewed that the TIF funds will pay the loan for the daycare incentive. Alderman Paul Kaczmarski made the motion to approve the ordinance and Alderman Jeff Soenksen seconded; the roll call recorded 6 yeses and 0 nos.
Council minutes indicate this ordinance is intended to pair with the loan previously approved the same evening; staff and the city attorney will proceed with the necessary paperwork to implement the incentive.
