Tilton trustees debate TIF incentives, hear business pitch for downtown finish‑shop

Developers and staff presented redevelopment proposals under the village’s TIF program and discussed how best to structure incentives. Brandon Smith (speaker 11), who said he plans to use a downtown building as a 4,000‑square‑foot finishing shop, outlined the business model and said an upfront payment would help him open sooner. Staff reported the TIF‑eligible portion of the project and offered options for incentives expressed as a percentage of eligible cost (5%, 10%, 15%) or as an upfront payment.

During discussion the board weighed lump‑sum support against reimbursement after documented expenditures. Economic‑development staff explained typical reimbursement timing and said that, after closing and submitted invoices, the village could reimburse within a month. Brandon Smith said: "My name is Brandon Smith. I'm the owner of Brand new Hair Finishing... [we] service homeowners and contractors throughout Central Illinois and Indiana," and said an upfront disbursement would allow needed equipment purchases. Trustees asked staff to prepare redevelopment agreements that could be used to formalize reimbursement and to assess the timelines for payments and closing.