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Board approves $290,426.42 TIF surplus distribution to county treasurer
Summary
Trustees passed an ordinance declaring surplus revenue in the South Jacksonville TIF Special Tax Allocation Fund and authorized payment of $290,426.42 to the Morgan County Treasurer for pro‑rata distribution to affected taxing districts.
President Richard Samples presented an ordinance declaring surplus revenue in the South Jacksonville TIF District Special Tax Allocation Fund and asked the board to authorize payment to the Morgan County Treasurer. "This is something we do every year," President Samples said when introducing the ordinance; trustees then moved and voted to approve the distribution of $290,426.42.
Trustees discussed the requirement to remit surplus TIF revenue to affected taxing districts; Trustee Steve Retzer asked whether the village had to return the funds, and Samples confirmed that in this case the surplus must be distributed. The ordinance passed on a roll call vote recorded as unanimous among those present; the transcript does not provide an exact numeric vote tally.
