Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the PILOTs topic
No spam. Unsubscribe anytime.
IDA reports $1.3 million in PILOT receipts; funds to be remitted to jurisdictions
Summary
Agency staff said the IDA has collected $1.3 million in payments-in-lieu-of-taxes (PILOTs) from six of nine billed payers; those amounts are recorded as due to other governments and will be remitted to appropriate taxing jurisdictions within about 30 days.
Finance staff reported that PILOT collections for the year total $1,300,000 so far, representing six of the nine billed properties. The funds are currently recorded in the IDA's ledger as "due to other governments" and staff said they will remit the monies to the city, school district and county as appropriate within the next 30 days.
Board members were informed the monies will move through the accounting system and be remitted to the respective tax jurisdictions; staff will show that activity in future board reports.
