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Carbon Cliff expects TIF consultant proposal from Teska Associates
Summary
Director Nick Gottwalt told the board that Teska Associates is preparing a proposal to serve as the village's TIF consultant for a new TIF area; the proposal is expected by the July 1, 2025 board meeting.
Director Nick Gottwalt told the Board of Trustees that Teska Associates, Inc. is preparing a proposal to serve as the village's tax increment financing (TIF) consultant as Carbon Cliff establishes a new TIF area. Gottwalt said the village expects to receive the proposal in time for the July 1, 2025 board meeting.
Establishing a new TIF area would give the village authority to use incremental property-tax revenues inside a designated area for redevelopment projects. Gottwalt identified Teska Associates and Pete Iosue as the consultant working on the submission; he said, "I anticipate having a proposal from Teska Associates for the July 1, 2025, Board Meeting." The board did not take formal action on the TIF at the June 17 meeting and will review the consultant proposal when it is submitted.
